President Joe Biden is helping more student loan borrowers get student loan cancellation. Here’s what you need to know. Biden has been focused on helping more student loan borrowers get student loan cancellation, even if it’s not wide-scale student loan cancellation. His targeted approach has resulted in $3 billion in student loans cancelled. His latest focus is improving the Public Service Loan Forgiveness (PSLF) program, which helps student loan borrowers such as first responders, teachers, servicemembers in the military, nurses, doctors and other public servants get federal student loan cancellation. As part of the College Cost Reduction and Access Act, Congress created the federal program on a bipartisan basis in 2007 during the President George W. Bush administration. As of April 30, 2021, the U.S. Department of Education has cancelled $452.7 million of student loan debt for 5,467 student loan borrowers through the Public Service Loan Forgiveness program.