During a reelection campaign event on Wednesday, President Joe Biden said he’s canceling student debt for nearly 153,000. About 3% of them are Arizonans.

Biden’s move to cancel $1.2 billion in student debt is part of a new repayment plan that offers a faster path to loan forgiveness.

Millions of borrowers have enrolled.

The first round of cancellations was not supposed to start until summer.

Then the Biden administration said they’d be ready ahead of schedule.

Nearly 4,000 Arizonans are getting roughly $33 million of student loans forgiven, according to the U.S. Department of Education.