The Biden administration is canceling federal student loans for another 55,000 workers to the tune of $4.28 billion in what's expected to be the last such round before he leaves office.

Summary

The Biden administration has canceled $4.28 billion in federal student loans for 55,000 workers under the Public Service Loan Forgiveness (PSLF) program, benefiting teachers, nurses, and other public service employees.

This marks the final round of PSLF relief before Biden leaves office, bringing his total student loan cancellations to $180 billion for 4.9 million Americans.

While Biden expanded PSLF by easing restrictive rules, he failed to achieve broader loan forgiveness after Supreme Court and legal challenges blocked his efforts.

Republicans criticize the cancellations as unfair taxpayer burdens, while Trump has opposed Biden’s plans.