Biden Cancels $1 Billion Worth Of Student Loans For Specific Group Of Borrowers

The Biden administration is canceling $1 billion of student debt covering 72,000 borrowers who already had their claims approved under something called the borrower defense to repayment.

Those borrowers previously had some student loans forgiven, but now will see all of their student debt disappear.

Here & Now's Peter O'Dowd speaks with Mike Regan, senior editor for Bloomberg News, about what this means for Biden's broader plans to forgive student loans.