As President Joe Biden nears the end of his term, he’s delivering one final wave of student loan relief for more than 150,000 borrowers. This brings the total number of people who’ve had their student debt canceled under his administration to over 5 million—a major milestone he proudly shared in a recent White House announcement.
While Biden’s original plan to offer broad federal student loan forgiveness faced a setback in the courts, he’s still managed to wipe out more student loan debt than any other administration in history. His administration’s focus shifted to improving existing loan forgiveness programs, ensuring that help reached those who need it most.
The latest group of beneficiaries includes:
- Over 80,000 borrowers who were scammed by their schools,
- 60,000+ borrowers with total and permanent disabilities, and
- More than 6,000 public service workers, like teachers and firefighters, who’ve served the community for years.
Biden’s team has worked hard to expand and improve programs that were already in place before he took office. This strategy has allowed them to offer relief, even though the Supreme Court struck down his broader forgiveness plan in 2023.
One of the standout achievements is the expansion of the Public Service Loan Forgiveness (PSLF) program. This program offers public servants the chance to have their remaining student loan debt wiped out after making ten years of payments. Biden also highlighted efforts to correct mistakes in income-driven repayment programs and increase Pell Grant awards—financial aid for low-income students.
Here’s a quick breakdown of the incredible impact:
- 1.4 million borrowers were finally freed after decades of payments, thanks to income-driven repayment programs.
- 1 million public service workers—nurses, teachers, and more—had their debts canceled.
- 1.7 million borrowers were victims of education fraud.
- 663,000 borrowers with permanent disabilities got relief.
This announcement came just weeks after the Education Department decided to pull back on a broader plan to offer forgiveness for borrowers facing severe financial hardship. As Biden’s term winds down, some of his relief plans have faced criticism, particularly from conservative lawmakers who argue that forgiving student debt would unfairly shift the financial burden onto those without a college degree. The Supreme Court echoed these concerns in 2023 when they ruled that Biden’s initial plan exceeded his executive power.
Despite these legal challenges, Biden remains determined to honor his promise. “Since Day One, I’ve said higher education should be a pathway to the middle class, not a barrier to opportunity,” he said in his statement.
As Biden wraps up his presidency, this student loan relief is just one of the ways he’s working to make education more accessible and affordable for all. And for the millions who’ve benefited from these efforts, it’s a much-needed lifeline as they head into the new year.
