US President Joe Biden on Thursday canceled another $4.5 billion in student loans for more than 60,000 borrowers, bringing the number of government employees whose student loans have been canceled to more than 1 million.
In total, the Biden-Harris Administration has authorized $175 billion to help nearly 5 million student borrowers through various actions, the White House said in a statement.
Republicans have described the Democratic president’s approach to student loan forgiveness as overreaching and unfairly benefiting college-educated borrowers while others receive no such relief.
Earlier this month, a US District Judge based in St. Louis, Matthew Schelp, the nominee of former Republican President Donald Trump, issued a preliminary injunction to prevent the Biden administration from “cancelling” student loans and forgiving principal or interest under the program, pending a court ruling. the result of a state case.
— Surbhi Misra, Reuters
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