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Published 2 months ago

Biden admin cancels $37 million in student loans for some University of Phoenix students

  • The Biden administration has announced the cancellation of nearly $37 million in student debt for over 1,200 students who attended the University of Phoenix, as part of its efforts to address the burden of student loans in the country.
  • The relief is aimed at borrowers who applied for borrower defense discharges between September 2012 and December 2014 and provides much-needed financial relief for students who were misled or defrauded by the University of Phoenix.
  • This cancellation is just a fraction of the broader efforts by the Biden administration, which has already canceled over $117 billion in student debt for 3.4 million borrowers, and has implemented measures to expand eligibility for loan forgiveness and simplify repayment plans.
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