President Joe Biden's administration announced on Friday another $4.28 billion dollars in student loan relief for nearly 55,000 public service workers.

President Joe Biden's administration announced on Friday another $4.28 billion dollars in student loan relief for nearly 55,000 public service workers.

The Education Department said it "intends to commit its limited operational resources to helping at-risk borrowers return to repayment successfully."

KEY TAKEAWAYS President Joe Biden's administration has scrapped a proposal to provide student debt relief to borrowers who experienced financial hardships.The Department of Education insisted the withdrawal was due to timing and the administration had the authority to administer this relief.

It's officially the end of the road for Biden's attempts to broadly cancel student debt.

The Education Department effectively halts the regulations before the inauguration of Trump, who has voiced opposition to both

The department said that it made its decision because of ongoing litigation over the rule change, and because there were 150,000 public comments with modification suggestions that needed to be considered.

The Biden administration says it is canceling federal student loans for another 55,000 public service workers through an existing forgiveness program

The Biden administration is officially withdrawing its sweeping proposals to cancel student debt for tens of millions of Americans, effectively closing the door on mass loan forgiveness in the waning days of Joe Biden’s presidency.

Around $4 billion in student loan forgiveness will benefit 55,000 public service employees through the Public Service Loan Forgiveness program

The Department of Education withdrew a rule applying Title IX to require institutions to allow athletes to compete on athletic teams consistent with their gender identity.

President Biden announced on Friday he would be canceling more student debt for tens of thousands of public service workers, possibly his last major move on the issue before leaving office in a