Biden forgives student loans for 150,000 borrowers, bringing total to 5 million

WASHINGTON (Reuters) -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. Biden said the total number of Americans who have had their student debt canceled by his administration was now over 5 million. The 150,000 borrowers for whom student loan relief was approved included almost 85,000 borrowers who attended schools that "cheated and defrauded their students," 61,000 borrowers with permanent disabilities, and 6,100 public service workers, Biden said in a statement.