Biden extends $9 billion more of student debt relief to 125,000 borrowers

President Joe Biden announced Wednesday $9 billion in new student loan debt relief for 125,000 borrowers.

White House officials called the move a “key step” in his efforts “to fix the broken student loan system, make college more affordable, and bring the promise of higher education in reach for more Americans.”

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The relief itself comes in the form of restructured income-driven repayment plans and Public Service Loan Forgiveness, the core focus of Biden’s debt agenda following the Supreme Court’s striking down of his unilateral cancellation earlier this year.

In total, $5.2 billion of Wednesday’s allotment will be extended to 53,000 borrowers through Public Service Loan Forgiveness programs, and $2.8 billion comes from amending income-driven repayment plans so that “borrowers who made 20 years or more of payments” can receive “the relief they were entitled to,” according to the White House.

Biden also wiped $1.2 billion in loan debt for 22,000 borrowers with “a total or permanent disability.”

Since entering office, Biden has approved roughly $127 billion in student loan debt cancellation for 3.6 million borrowers.

White House officials also criticized Republican lawmakers seeking to reverse student loan cancellation efforts. GOP members have balked at widespread debt forgiveness plans as an unfair transfer of costs to taxpayers who paid off their debts or never attended college.

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“Republicans in Congress have tried every which way to block these efforts and keep their own constituents under the burden of student loan debt,” officials said in a statement. “President Biden will show that his Administration will not be deterred in delivering for the American people and giving hardworking families breathing room.”

Though Biden’s debt cancellation remains popular among young Democratic voters, the president still receives dismal economic marks from most voters. A recent poll from NBC found that just 38% of the country approves of Biden’s economic stewardship.