President Joe Biden’s administration has shared its plans to give another 153,000 people student debt forgiveness, canceling nearly $1.2 billion in loans.
The latest round of loan cancellations will be for those who are enrolled in Biden’s Saving on a Valuable Education plan, have borrowed $12,000 or less, and have been repaying the money for at least 10 years.
While the president’s wide reaching loan forgiveness plan, which would have seen nearly $430 billion in student loan debt wiped clean, was struck down by the Supreme Court last summer, he has continued his efforts to offer relief to Americans.
So far, nearly $138 billion in student debt has been forgiven for nearly 3.9 million people through Biden’s executive actions, the White House shared.
The White House says the latest move will “particularly help community college and other borrowers with smaller loans and put many on track to being free of student debt faster than ever before.”