Biden's Student Loan Forgiveness Nears $184 Billion

President Joe Biden's administration has approved a significant final batch of student loan forgiveness, amounting to $4.5 billion for 261,000 borrowers from Ashford University due to the institution's misrepresentations. This initiative is part of a broader effort that has seen more than $183 billion in student debt canceled for over five million Americans, despite legal challenges, including Supreme Court setbacks. The latest phase targets specific groups: nearly 85,000 defrauded students, 61,000 borrowers with disabilities, and 6,100 public service workers. These actions are achieved through existing programs like borrower defense and Public Service Loan Forgiveness, which have been expanded under Biden's administration. However, the future of these forgiveness measures is uncertain with the incoming Trump administration, which has previously criticized such initiatives.