President Joe Biden recently announced that his administration has taken steps to cancel student debt for certain groups of borrowers. This move aims to alleviate the financial burden on individuals who are struggling to repay their student loans. So, who exactly are the beneficiaries of this student debt cancellation?

Firstly, individuals who were defrauded by for-profit schools are among those whose student debt has been canceled. Borrowers who were misled by deceptive practices and false advertising from these institutions will now have their loans forgiven. This move is a critical step in providing relief to students who were victimized by predatory schools seeking to make a profit off of them.

Additionally, borrowers who have significant disabilities and are unable to work will also have their student debt canceled. This group of individuals faces significant challenges in repaying their loans due to their medical conditions, and canceling their student debt will provide much-needed financial relief.

Furthermore, individuals who work in public service professions, such as teachers, nurses, and government employees, are among those whose student debt has been canceled. These individuals often work in low-paying roles that make it challenging to repay their student loans, and canceling their debt recognizes their valuable contributions to society.

Moreover, student borrowers who were defrauded by their colleges, regardless of whether they attended a for-profit institution or not, will have their student debt canceled. These individuals were misled by their schools about the quality of education and job prospects, leading to financial hardship that will now be alleviated through debt forgiveness.

Overall, the cancellation of student debt for these groups of borrowers is a significant step towards addressing the growing crisis of student loan debt in the United States. By providing relief to those who have been unfairly burdened by their educational loans, the Biden administration is working to create a more equitable and accessible higher education system for all Americans.