Biden announced Monday morning that the latest round of forgiveness will affect 150,000 borrowers, including 85,000 who “attended schools that cheated or defrauded their students,” 61,000 borrowers with permanent disabilities, and 6,100 public servants.

HERE’S WHICH BIDEN EXECUTIVE ORDERS WILL BE THE FIRST TO GO UNDER TRUMP

In a statement, the president championed his action on debt, specifically highlighting changes he made to the Public Service Loan Forgiveness program and increasing Pell Grants.

“My Administration has taken historic action to reduce the burden of student debt, hold bad actors accountable, and fight on behalf of students across the country,” Biden wrote. “Since Day One of my Administration, I promised to ensure higher education is a ticket to the middle class, not a barrier to opportunity, and I’m proud to say we have forgiven more student loan debt than any other administration in history.”

It remains to be seen how President-elect Donald Trump plans to handle the Biden administration’s actions on student loan debt.

Biden’s signature student loan forgiveness vehicle, the Saving on a Valuable Education program, is already the target of lawsuits filed by seven Republican state attorneys general. If any of those suits produce unfavorable rulings for the Biden administration, then 8 million program enrollees could see their monthly payments rise by up to nearly 600%.

Trump has vowed to shutter the Education Department, and he could, without congressional authority, begin shifting its programs to separate agencies.

During his first term in office, Trump suggested rehousing the department under the Labor Department, and multiple Trumpworld insiders told the Washington Examiner that, under the president-elect’s possible federal restructuring, the Treasury Department could absorb the Education Department’s loan programs.