160,500 More Student-loan Borrowers Are Getting $7.7 Billion In 'much Needed' Debt Cancellation

President Joe Biden.AP Photo/Phelan M. EbenhackBiden announced another $7.7 billion in student-debt cancellation for 160,500 borrowers.It's a result of fixes to PSLF and income-driven repayment plans, including the SAVE plan.This means that one out of every 10 federal borrowers have now gotten debt relief.Another batch of student-loan borrowers has been approved for debt relief.On Wednesday, President Joe Biden's Education Department announced that it approved $7.7 billion in debt cancellation for 160,500 borrowers on Public Service Loan Forgiveness — which forgives student debt for government and nonprofit workers after 10 years of qualifying payments — or income-driven repayment plans.Specifically, according to the announcement, 66,900 borrowers are receiving relief through fixes to PSLF, 54,300 borrowers are receiving relief through the SAVE income-driven repayment plan, and 39,200 borrowers are receiving relief through one-time account adjustments to bring payments on income-driven repayment plans up to date.The relief through SAVE is a result of a new provision the Education Department implemented earlier this year.