Biden Administration Canceling Student Loans For Another 160,000 Borrowers

By COLLIN BINKLEY (AP Education Writer) WASHINGTON (AP) — The Biden administration is canceling student loans for another 160,000 borrowers through a combination of existing programs. The Education Department announced the latest round of cancellation on Wednesday, saying it will erase $7.7 billion in federal student loans. With the latest action, the administration said it has canceled $167 billion in student debt for nearly 5 million Americans through several programs. “From day one of my administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity,” President Joe Biden said in a statement.