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Biden Cancels Over $7 Billion in Student Debt for More Than 277,000 Borrowers. On April 12, President Joe Biden said that over 277,000 borrowers in more than 40 states will have $7.4 billion in student loan debt wiped out, 'The Hill' reports. To date, the Biden administration has canceled $153 billion in student loan debt. "From day one of my administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity." "I will never stop working to cancel student debt – no matter how many times Republican elected officials try to stop us.", President Joe Biden, via statement. 'The Hill' reports that Biden's loan forgiveness has largely been aimed at helping "public service workers, those on IDR plans", people who've been defrauded by educational institutions and those with disabilities. Republican Rep. Virginia Foxx, chair of the House Education Committee, issued a statement in response to Biden's actions. "The administration is tone deaf. There’s no other way to put it.". "We know that instead of doing its job the administration focused time, energy, and resources on its illegal student loan scheme.". "And that has been frustrating, especially since it has jeopardized the academic journey of millions of students.". "But what is absolutely maddening is that the administration is STILL not doing its job and instead focusing on its student loan shenanigans.", Rep. Virginia Foxx, chair of the House Education Committee, via statement. White House press secretary Karine Jean-Pierre said, “We know what Republicans are going to do; we can’t stop them from that. But it’s also not going to stop the president from acting and taking action, like he is today.” THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT