Biden Admin's Bold Move on Student Loan Forgiveness

President Joe Biden's administration announced the cancellation of student loans for over 150,000 borrowers. This includes those affected by fraudulent schools, individuals with disabilities, and public service workers. In total, over 5 million Americans have benefited, with relief amounting to over $183.6 billion.

On Monday, President Joe Biden announced a significant move in his administration's promise to address student loan debt. More than 150,000 borrowers are set to benefit from cancelled loans, targeting groups impacted by fraudulent educational institutions, permanent disabilities, and those in public service jobs.

With nearly 85,000 attending schools accused of deception, 61,000 individuals with disabilities, and 6,100 public service workers included, the total number of Americans relieved from student debt under Biden's leadership has now surpassed 5 million, the U.S. Education Department reported.

This measure is part of 28 actions taken by Biden's administration, totaling $183.6 billion in loan forgiveness. However, this campaign promise hasn't been without challenges, facing legal obstacles from the Republican party and judicial scrutiny.

(With inputs from agencies.)