Biden has approved $9.5 billion in student loan cancellations this year for defrauded and disabled students
By Katie Lobosco The Department of Education said Thursday that it will cancel $1.1 billion in student loan debt for some students who attended the now-defunct for-profit ITT Technical Institute — bringing the total amount of loan discharges approved under President Joe Biden to $9.5 billion. The majority of that debt is held by permanently disabled borrowers who have long been eligible for loan forgiveness but who have not applied. The Department of Education is making the cancellation automatic by using federal data to identify borrowers who qualify. The change will impact 320,000 borrowers, eliminating $5.8 billion in debt starting in September. Much of