President Joe Biden announced on Wednesday the cancelation of another $7.7 billion in student debt for 160,500 borrowers, stepping up the efforts of his administration to chip away college debt and reduce the burden of educational expense on middle income households.
The latest announcement, also seen as BIden's efforts to gain support of young people ahead of the November presidential election, brings the total student loan forgiven by his administration to $167 billion, benefiting 4.75 million Americans.
