President Joe Biden has announced another $7.7 billion in student loans will not need to be repaid, with those who stand to benefit having an average of $35,000 in debt written off.

“Today, my administration is canceling student debt for 160,000 more people, bringing the total number of Americans who have benefitted from our debt relief actions to 4.75 million,” Biden said in a prepared statement.

President Biden canceled $7.4 billion in student loan debt on Friday as he tries to shore up support with young voters who are disproportionately affected by soaring education costs, but who may be drifting away over his policy on Israel and the war in Gaza.

The latest round of relief is part of a strategy by the White House to take smaller, targeted actions for certain subsets of borrowers after the Supreme Court struck down a far more ambitious plan to wipe out $400 billion in debt last year.

President Biden announced Friday he would be canceling student debt of more than 277,000 borrowers.

The administration is forgiving $7.4 billion for borrowers in more than 40 states in the latest debt relief program, bringing the total amount of student loan cancellation over Biden’s presidency to $153 billion.

The latest loan forgiveness initiative is coming through various income-driven repayment (IDR) plans, including the president’s newly established SAVE program.

The White House announced another student loan handout on Friday, bringing the total number of borrowers who have received President Biden’s debt relief so far to 4.3 million. According to the White House, the total student loan cancellation sum is a whopping $153 billion.

"Today, my Administration is canceling student debt for 277,000 more people, bringing the total number of Americans who have been approved for debt relief so far under my Administration to 4.3 million borrowers through various actions," Biden said Friday via the White House.

Only one side has to play by the rules.

Here we go again. President Joe Biden has, once more, claimed to find astonishingly wide-ranging authority to forgive student loans hiding in minute places deep in the federal code.

Biden has already been rebuked for this practice by the Supreme Court, yet he remains undeterred.

He’s not going to let niggling concerns about the legality of a new half-trillion-dollar program get in the way of an important substantive and political goal.

President Biden announced a student loan plan Monday that would help millions of Americans have their debt forgiven in his latest attempt to provide relief to borrowers. 

Biden announced a plan focused in large part on borrowers with so-called “runaway interest” who owe more money than they did at the start of repayment.

President Biden will unveil yet another student loan handout plan on Monday in his ongoing attempt to circumvent the Supreme Court.

The court has struck down multiple versions of Biden's plans for a student loan bailout, and 11 Republican-led states filed a lawsuit against the version he announced in February. The new Biden plan is expected to affect up to 30 million Americans, who will see sizable portions of their student debt slashed before the November election, according to the Wall Street Journal.

The Biden administration unveiled a new set of plans on Monday that would eliminate student debt for millions of Americans. The administration says that, if fully implemented, it would bring the number of borrowers who've seen some or all of their debt forgiven during the president's term to more than 30 million.