Biden cancels $11 billion in debt for 277,000 students

The Biden administration will cancel $US7.4 billion ($A11.4 billion) in student debt for 277,000 borrowers, the White House says.

President Joe Biden announced plans to ease student debt earlier this month that would benefit at least 23 million Americans, addressing a key issue for young voters whose support he needs as he seeks re-election in November.

Biden, a Democrat, pledged in 2023 to find other avenues for tackling debt relief after the Supreme Court in June blocked his broader plan to cancel $US430 billion ($A661 billion) in student loan debt.