Money Biden administration proposes canceling $6B in student debt for 200,000 people in settlement June 23, 2022June 24, 2022Marina Pitofsky, USA TODAYComments Off on Biden administration proposes canceling $6B in student debt for 200,000 people in settlement The Biden administration this week agreed to cancel $6 billion in student loans for people who say they were defrauded by their schools.