This could be the Biden administration's last round of student debt relief before the White House transition. The Biden-Harris administration on Monday announced an additional round of student loan forgiveness, canceling the balances of over 152,000 borrowers. The loans forgiven total nearly $4 billion.

President Joe Biden said on Monday his administration would cancel student loans for more than 150,000 borrowers, targeting those who attended schools that defrauded students, those with permanent disabilities and public service workers.

President Joe Biden announced Monday that his administration had approved student loan relief for more than 150,000 borrowers, bringing the total number who have had their student debt cancelled under the Biden administration to over 5 million.