"Biden Administration Announces $7.4 Billion Student Debt Relief for 277,000 Borrowers"

President Joe Biden announced the cancellation of $7.4 billion in student loans for 277,000 borrowers, bringing the total amount canceled to $153 billion for 4.3 million Americans. The relief targets borrowers in specific repayment plans and aims to provide assistance to those facing financial hardship. Biden emphasized his commitment to ensuring higher education is a pathway to the middle class and criticized Republican opposition to debt cancellation. The Education Department plans to waive interest for millions of borrowers, discharge debt for eligible individuals, and assist those in low-financial-value programs. Public input on the proposed actions will be sought in the coming weeks.