President Joe Biden announced on Monday that his administration is approving student loan relief for 150,000 more borrowers.

“Today’s announcement includes additional relief for borrowers misled and cheated by their institutions, borrowers with disabilities, as well as additional loan forgiveness for public servants," said Secretary of Education Miguel Cardona.

With Monday's announcement, the Biden administration has now approved student loan relief for 5 million Americans.

RELATED STORY | 8 million student loan borrowers won't have to make payments until April

"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," President Biden said in a statement.

Those impacted should receive information about their discharge in the coming days, officials said.

It's unclear what the Trump administration's approach to student loan forgiveness will be. However, officials said that it cannot undo disbursements made by the Biden administration, as they are "final agency determinations."