As President Joe Biden’s administration nears the end of its term, the Department of Education rolled out nearly $4.23 billion in additional student loan forgiveness Monday.

The Department of Education announced that more than 150,000 borrowers were approved for student loan relief through various programs. This includes borrowers with total and permanent disabilities, those in the Public Service Loan Forgiveness (PSLF) program, and those who were "cheated and defrauded by their schools," the department said.

This is the 28th student loan forgiveness action by the Biden-Harris administration and the total amount of loans forgiven or discharged amounts to $183.6 billion for more than 5 million borrowers.

"Four years ago, when we joined the Department of Education, it didn't take long to see that we had a broken student loan system. One of the biggest problems was the state of our student debt relief program. They were so riddled with red tape and dysfunction that even if you were eligible, it was damn near impossible to get it," said U.S. Secretary of Education Miguel Cardona on a conference call with reporters.

Who Got Relief?

Monday's relief was broken down into three categories:

• The department under Biden previously expanded the eligibility requirements for PSLF. This round provides $465 million in loan forgiveness to 6,100 PSLF borrowers.
• Nearly 85,000 borrowers who had attended a college that engaged in misconduct were approved for $1.26 billion in borrower defense group relief.
• The department also announced $2.5 billion in forgiveness for 61,000 borrowers with a total permanent disability.

What's Next For Borrowers?

This action comes as student loan borrowers worry about the future of repayment and forgiveness plans under incoming President Donald Trump. Biden’s Saving for a Valuable Education (SAVE) plan is still paused due to ongoing lawsuits, and it could be completely abandoned under the Trump presidency.

However, senior administration officials said in a press call with reporters that this latest round of forgiveness is a final ruling, indicating it cannot be overturned after the change in government.