Washington (CNN) The Department of Education has canceled a total of $1.5 billion in student loan debt for nearly 92,000 students, who were victims of for-profit college fraud, since President Joe Biden took office. The announcement comes a month after the Department of Education said it was canceling $500 million in student loan debt for 18,000 former ITT Tech students. Victims of fraudKnown as Borrower Defense, the policy allows students who were defrauded by their college to seek debt relief. Some Democrats are pushing for broad debt forgivenessBiden's efforts on student loan debt haven't gone far enough for some leaders in the Democratic Party -- including Senate Majority Leader Chuck Schumer and Massachusetts Sen. Elizabeth Warren -- who are calling for the broad cancellation of $50,000 per borrower. A pandemic-related suspension of federal student loan payments, extended by Biden earlier this year, is in place until October.

Source: CNN July 09, 2021 09:56 UTC