Biden Forgives $600 Million of Student Debt in Final-Days Effort

President Joe Biden is canceling $600 million in student loans, the final round of his administration’s piecemeal debt forgiveness efforts after the Supreme Court blocked a sweeping plan to wipe away borrowers’ balances.

The Education Department announced the move on Thursday, which will benefit about 4,550 students whose schools closed while they were enrolled and those participating in a federal income-driven repayment program. In total, the agency says it canceled $188.8 billion in loans for more than five million borrowers since Biden took office in a series of separate actions.

The administration has moved to cancel loans through existing federal ...