6 billion in federal student loan debt for 3.5 million borrowers as of Feb. 23. These changes include revamping the Public Service Loan Forgiveness program and prioritizing relief for lower-income borrowers through the income-driven repayment program.

Under the leadership of Secretary of Education Miguel Cardona, the Education Department has streamlined and expanded eligibility criteria for loan forgiveness programs, leading to a massive $56.7 billion in forgiven loans for 793,000 borrowers through the Public Service Loan Forgiveness program. Additionally, $45.6 billion in student loan debt has been canceled for 930,500 borrowers through improvements to the income-driven repayment program.

President Biden also announced the introduction of the Saving on a Valuable Education (SAVE) plan to replace the Revised Pay As You Earn program, providing automatic loan forgiveness after 10 years for borrowers who took out federal loans for $12,000 or less. The SAVE plan aims to address small loan balances and accrued interest, benefitting a significant portion of borrowers who owe less than $20,000.

Furthermore, the Education Department, under Secretary Cardona, has taken steps to hold shady colleges accountable and provide relief to victims of higher education scams. This includes canceling $22.5 billion for 1.3 million borrowers who attended schools that closed abruptly or engaged in fraudulent practices.

Despite facing challenges, particularly from the conservative judiciary, the Education Department continues to forge ahead with plans to offer debt relief to millions of Americans through the Higher Education Act. This legislation provides the Department with the authority to forgive individual student loans, with ongoing efforts to navigate the complex process of negotiated rulemaking.

President Biden's administration's relentless efforts in addressing student loan debt relief have been met with both praise and criticism. While progress may be gradual, the administration's commitment to finding solutions for borrowers amidst legal obstacles marks a stark departure from the policies of the previous administration.

Student debt relief advocates continue to closely monitor developments, recognizing the ongoing efforts by the Education Department to provide much-needed relief to borrowers impacted by the student debt crisis.