Biden is canceling $5.8 billion in student loan debt, the largest amount so far

Biden is canceling $5.8 billion in student loan debt, the largest amount so far

Biden is canceling $5.8 billion in student loan debt, the largest amount so far

The Biden administration is erasing billions of dollars more in student loan debt, wiping the slate clean for hundreds of thousands of Americans.

The new announcement is this year’s biggest yet from the U.S. Department of Education, which has now canceled a total of almost $9 billion in federal student loans since President Joe Biden took office in January. With their balances gone, the borrowers are better able to save, invest or pay off other debts.

Meanwhile, tens of millions of Americans continue to wait

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