US President Joe Biden speaks during an event in Madison, Wisconsin, US, on Monday, April 8, 2024.
Daniel Steinle | Bloomberg | Getty Images
The Biden administration announced on Thursday what it described as its final round of student loan forgiveness, clearing over $600 million in debt for thousands of borrowers.
The relief will go to 4,550 borrowers entitled to debt cancellation through the Income-Based Repayment plan, as well as 4,100 former students of DeVry University. The U.S. Department of Education cleared the debts of the latter group of borrowers based upon Department findings announced in February 2022 that the for-profit chain “made widespread substantial misrepresentations about its job placement rates.”
More from Personal Finance:Here’s the inflation breakdown for December 2024 — in one chart30 million people could qualify to use IRS free Direct File programHealth care jobs are in demand in 2025 — one of the top roles can pay $385,000
Hessy Fernandez, senior director …