Washington (CNN) The Department of Education said Thursday that it will cancel $1.1 billion in student loan debt for some students who attended the now-defunct for-profit ITT Technical Institute -- bringing the total amount of loan discharges approved under President Joe Biden to $9.5 billion. The majority of that debt is held by permanently disabled borrowers who have long been eligible for loan forgiveness but who have not applied. The Department of Education is making the cancellation automatic by using federal data to identify borrowers who qualify. The most recent action will automatically cancel the debt borrowed by 115,000 students who left ITT Tech without completing their program after March 2008. About 43% of those borrowers are currently in default on their loans, the Department of Education said.

Source: CNN August 26, 2021 20:15 UTC