 Meantime, the Biden administration is planning to cancel more student loans. 35,000 more student loan recipients could be eligible for a total of $1.2 billion in student debt relief. The administration announcing changes and fixes to the Public Service Loan Forgiveness Program signed into law by President George W. Bush in 2007. The administration has so far cleared $69 billion in student debt under the PSFL program. That's reporter Ryan Schmelz.