Biden-Harris administration cancels another $4.28 billion in US student loans

US President Joe Biden has cancelled another $4.28 billion in student loans for nearly 55,000 people across the country, the Department of Education said in a statement. It comes days before President-elect Donald Trump is set to take office.

The Biden-Harris administration’s decision on Friday takes the total public service student loans relieved to about $78 billion for nearly 1.1 million people. This is part of Biden’s 2020 election campaign pledge to deliver debt relief to millions.

Friday’s decision also brings the total number of people approved for the student loan relief campaign under Biden to about 5 million. Trump and JD Vance are scheduled to take office on January 20.

US student loan relief: Is Trump going to continue these efforts?

Four years ago, US President Joe Biden made a promise to millions of teachers, first responders, service members, nurses and other public servants to ‘fix the broken’ Public Service Loan Forgiveness Programme, said Education Secretary Miguel Cardona.

It is unclear if the Biden-Harris administration plans to announce more US student loan relief before January 20. The President also has other relief efforts up his sleeves. But are they going to pass the legal battle?

Even if Biden’s plans survive legally, is the incoming Trump administration going to continue those efforts? Only time can tell. But it should be emphasised that Biden’s student debt relief efforts are a big help for millions of people.