Joe Biden says he is approving student loan relief for over 150,000 borrowers

'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', the statement said.

President Joe Biden said on Monday his administration is approving student loan relief for more than 150,000 borrowers who included those who attended schools that defrauded their students, those with total and permanent disabilities and public service workers.

"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,” Biden said in a written statement.