Under the Biden Administration, $26 billion in student loan forgiveness has been approved, but borrowers now face greater uncertainty.

The forgiveness of billions of dollars in student loans for more than a million borrowers has been approved by the Biden administration.

Through Borrower Defense to Repayment, $8 billion in student loan debt has been cancelled, with a large portion of these payments going to borrowers who attended Corinthian Colleges. 

This remedy excludes the potential billion-dollar extra student loan forgiveness available under a proposed class action settlement agreement for borrowers who attended various other institutions.

Under the Total and Permanent Disability (TPD) discharge programme, handicapped borrowers will receive close to $9 billion in student loan forgiveness.

Through the Limited PSLF Waiver effort, which temporarily loosened the requirements for qualifying for Public Service Loan Forgiveness, almost $8 billion in student debt has been forgiven.

For borrowers whose schools closed while they were enrolled, more than $1 billion in student loans were cancelled.