President Biden cancels $7.7 billion in student load debt

(CNN, KYMA/KECY) - President Joe Biden has canceled another $7.7 billion of student loan debt.

This latest round of relief impacts 54,000 borrowers enrolled in the White House's Saving on a Valuable Deduction, or SAVE, Plan. They received $613 million in relief.

Nearly 67,000 teachers, nurses, or other public-sector workers also saw $5.2 billion forgiven through the Public Service Loan Forgiveness Program.

Then, there were the 39,000 borrowers enrolled in income-driven repayment programs, who received $1.9 billion of debt relief.

To date, biden has canceled an average of $35,000 in loans for 4.75 million Americans.