(Bloomberg) — President Joe Biden is canceling $600 million in student loans, the final round of his administration’s piecemeal debt forgiveness efforts after the Supreme Court blocked a sweeping plan to wipe away borrowers’ balances.
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The Education Department announced the move on Thursday, which will benefit about 4,550 students whose schools closed while they were enrolled and those participating in a federal income-driven repayment program. In total, the agency says it canceled $188.8 billion in loans for more than five million borrowers since Biden took office in a series of separate actions.
The administration has moved to cancel loans through existing federal programs in the aftermath of a 2023…
