President Joe Biden's administration said on Wednesday it is cancelling $1.2 billion worth of student loans for some 153,000 people who are eligible under a program used to make good on promises to increase loan forgiveness, APA reports quoting Reuters.
Biden last year pledged to find other avenues for tackling debt relief after the Supreme Court in June blocked a broader plan to forgive $430 billion in student loan debt.
The administration has now canceled some $138 billion in student debt for nearly 3.9 million people through executive actions, the White House said.
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