Biden cancels $9 billion in student debt for 125,000 borrowers

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President Joe Biden holds a Cabinet meeting at the White House on Oct. 2, 2023.

Kevin Dietsch | Getty Images

President Joe Biden announced on Wednesday that he'd approve $9 billion in student loan forgiveness for 125,000 Americans.

The relief is a result of his administration's fixes to number of programs, including the income-driven repayment plans and Public Service Loan Forgiveness.

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