The Biden administration is canceling nearly $37 million of federal student loan debt for more than 1,200 borrowers who attended the University of Phoenix because it found that the for-profit school misled students about job prospects.

Even though President Joe Biden's student loan forgiveness program was blocked by the Supreme Court earlier this year, his administration is moving forward with more targeted student debt cancellations allowed under existing programs.

The relief will help some 800,000 borrowers enrolled in income-driven repayment plans, officials say.

Even though the Supreme Court struck down President Joe Biden's student loan forgiveness program, more debt will be canceled during his time in office than under any other president.

The Supreme Court struck down President Joe Biden's student loan forgiveness program Friday, blocking millions of borrowers from receiving up to $20,000 in federal student debt relief, just months before student loan payments are set to restart after a yearslong pause.

Millions of borrowers may learn soon whether they could receive up to $20,000 in debt relief under President Joe Biden's student loan forgiveness program. The fate of the debt cancellation program lies with the Supreme Court, which is expected to rule in late June or early July.

Both the Senate and the House have now passed a bill to block President Joe Biden's student loan forgiveness program, which promises to cancel up to $20,000 of debt for millions of borrowers but has been held up by courts.

The Biden administration's one-time student loan forgiveness program is facing a fresh threat from House Republicans while it awaits a ruling from the Supreme Court about whether the proposal can take effect.

When President Joe Biden speaks at a community college in New York on Wednesday, he's expected to hit Republicans hard for budget cuts they are demanding as part of their bill to raise the debt ceiling.

Nearly 610,000 student loan borrowers have received debt relief from the Public Service Loan Forgiveness program since October 2021, when the Biden administration temporarily expanded eligibility.