Biden cancels another $4.2bn in US student loans before leaving office

Move brings total in student loan forgiveness during Joe Biden’s term as president to $180bn, Education Department says.

US President Joe Biden’s administration is cancelling student loans for another 55,000 people in the United States, amounting to $4.2bn in debt forgiveness just weeks before his time in office ends.

The White House said in a statement on Friday that the move would affect public service workers, including teachers, nurses and law enforcement officers.

It brings the total number of Americans approved for student debt relief during Biden’s tenure as president to nearly five million.

“Because of our actions, millions of people across the country now have the breathing room to start businesses, save for retirement, and pursue life plans they had to put on hold because of the burden of student loan debt,” the White House said.

In a separate statement, the Department of Education said the Biden administration had forgiven a total of about $180bn in student loans.

Friday’s announcement is expected to be the final round of public service loan forgiveness before Biden leaves office in January.