Statement from President Joe Biden on $7.4 Billion in Student Debt Cancellation for 277,000 More Borrowers

Today, my Administration is canceling student debt for 277,000 more people, bringing the total number of Americans who have been approved for debt relief so far under my Administration to 4.3 million borrowers through various actions. These 277,000 borrowers are enrolled in my Administration’s SAVE Plan, or were approved for relief because of fixes we made to Income-Driven Repayment Plans and Public Service Loan Forgiveness.

Today’s announcement comes on top of the significant progress we’ve made for students and borrowers over the past three years. That includes: providing the largest increases to the maximum Pell Grant in over a decade; fixing Public Service Loan Forgiveness so teachers, nurses, police officers, and other public service workers get the relief they are entitled to under the law, and holding colleges accountable for taking advantage of students and families.   And, earlier this week, I laid out my Administration’s new plans that would cancel student debt for more than 30 million Americans when combined with everything we’ve done so far.

From day one of my Administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity. I will never stop working to cancel student debt – no matter how many times Republican elected officials try to stop us.

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