Biden Administration Has Approved $14.5 Billion In Student Loan Forgiveness For Defrauded Borrowers

The Biden administration has approved $14.5 billion in student loan forgiveness for borrowers who’ve been harmed or defrauded by their schools, according to a top official.

“Thanks to our fight against predatory for-profit institutions, $14.5 billion in debt relief have been approved for borrowers across the nation,” said Education Secretary Miguel Cardona in a tweet last week, sharing a screenshot from a borrower who had their student loans discharged. “We’re not finished; we won’t stop fighting for you.”