More student loan borrowers will have ‘breathing room’ soon [Video]

Just in time for the holidays, another 55,000 public service workers received news of a gift from President Joe Biden: canceled student debt.

“Because of our actions, millions of people across the country now have the breathing room to start businesses, save for retirement, and pursue life plans they had to put on hold because of the burden of student loan debt,” said the president.

Biden made the announcement Friday. He said this round of debt cancellation brings the total number of student loan borrowers who have received relief to 5 million.

While the Biden administration’s plans for our one-time student debt were blocked by the U.S. Supreme Court, it has still managed to provide to relief to some borrowers. As of this November, an estimated 42.8 million borrowers have student loan debt in the U.S.

This October, the U.S. District Court for the Eastern District of Missouri issued a preliminary injunction on the proposed student loan relief regulations, …