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.

In a final move by the Biden administration before President-elect Donald Trump's inauguration this Monday, the Department of Education announced $600 million in student debt will be forgiven for more than federal loan 4,

The Biden administration announced Monday it was forgiving student loans for more than 150,000 borrowers, bringing the total number of individuals impacted by debt relief in President Biden’s term

Since Biden took office, he has forgiven debt for more than 5 million federal student loan borrowers, totaling $183.6 billion in relief. In 2023, the Supreme Court blocked the president’s plan to deliver wide-scale student loan forgiveness for tens of millions of borrowers.

In the waning days of Joe Biden’s presidency, his administration announced on Monday that it will provide student debt relief to 150,000 borrowers. Almost 85,000 attended schools that defrauded their students; 61,000 have total and permanent disabilities; and 6,100 are public service workers.

The outgoing Biden administration announced its final round of student loan forgiveness on Thursday, erasing more than $600 million in debt held by more than 8,000 borrowers.

The Biden administration announced on Wednesday that it would forgive $4.5 billion in student debt for 261,000 borrowers who attended Ashford University.

KEY TAKEAWAYS As its last student loan forgiveness action, President Joe Biden's administration forgave debt for 8,650 borrowers.This round gave more than $600 million to 4,550 borrowers enrolled in the Income-Based Repayment plan as part of payment count adjustments for Income-Driven Repayment plans.