By David Wetzel New York (Knewz) — The Department of Education will cancel approximately $6 billion in student loans under a settlement that is awaiting the approval of a federal court. In the case Sweet v. Cardona, more than 200,000 student loan borrowers filed a class-action lawsuit claiming they were stuck with federal debt from schools that misled them. The parties filed the proposed settlement with the court on June 22, and on June 28 the court will hold a hearing on whether or not to give preliminary approval. If approved, the settlement will make the students involved eligible or the re…