President Joe Biden's tenure at the White House draws to a close with a final wave of student debt cancellation initiatives.

According to Daily Mail, the Biden administration announced on Monday the cancellation of student debt for an additional 150,000 borrowers, bringing the total amount of loan forgiveness to $183.6 billion, despite facing significant legal obstacles throughout his presidency.

The latest relief package primarily targets students who attended defunct colleges owned by the Center for Excellence in Higher Education, including CollegeAmerica, Stevens-Henager College, and Independence University.

These institutions were found to have misled prospective students about employment prospects and private loan terms.

Biden Administration Maximizes Existing Loan Programs

The Education Department implemented this final round of debt relief by utilizing pre-existing programs rather than creating new policies.

This strategic approach emerged after the Supreme Court blocked Biden's broader forgiveness plan, which would have provided up to $20,000 in relief for more than 40 million Americans.

President Biden addressed this latest development, stating:

My Administration has taken historic action to reduce the burden of student debt, hold bad actors accountable, and fight on behalf of students across the country.

Republicans have consistently opposed these debt relief measures, arguing that the financial burden ultimately falls on taxpayers who either never attended college or have already paid off their loans. Critics maintain that the administration has exploited existing programs to circumvent the Supreme Court's ruling.

Public Service Loan Forgiveness Program Shows Dramatic Growth

The Public Service Loan Forgiveness (PSLF) program, established in 2007, has experienced unprecedented expansion under Biden's leadership.

Before his administration, only 7,000 borrowers had successfully received loan cancellation through this program. Complex rules and servicer errors resulted in a staggering 99 percent rejection rate for applicants.

Biden's administration addressed these challenges by temporarily relaxing eligibility requirements during the pandemic and later implementing permanent changes in 2023. These modifications have enabled more than one million public servants to achieve complete loan forgiveness, marking a significant improvement in the program's effectiveness.

Trump Administration Signals Potential Policy Reversal

The incoming Trump administration has indicated possible changes to student loan policies. Project 2025, a blueprint created by the Heritage Foundation for Trump's second term, outlines plans to eliminate PSLF and narrow borrower defense provisions. These proposed changes would also make repayment plans less generous than current options.

Representative Virginia Foxx, R-N.C., recently criticized Biden's expansion of borrower defense, suggesting that the administration had stretched legal boundaries to fulfill campaign promises. Foxx expressed confidence that under Trump's leadership, these expansive loan forgiveness initiatives would cease.

Critical Changes Transform Debt Relief Landscape

The Biden administration's regulatory modifications have fundamentally altered the student loan relief landscape. Through careful expansion of existing programs, they have managed to provide substantial debt relief despite legal challenges to broader forgiveness plans.

These changes addressed various issues, including periods of forbearance that previously didn't count toward forgiveness requirements. The administration's reforms have particularly benefited public service workers who had made years of payments but found themselves in ineligible repayment plans.

Future of Student Loan Relief Under New Leadership

As President Biden exits the White House, he leaves behind an unprecedented legacy of student debt relief affecting more than 5 million Americans. Monday's final action represents the culmination of persistent efforts to maximize existing debt relief mechanisms despite significant political and legal opposition.

The transition to Trump's administration brings uncertainty to the future of student loan forgiveness programs. While Trump's exact policies remain undefined, his previous characterization of debt cancellation as "vile" and illegal suggests a potentially dramatic shift in approach to student loan relief measures.