On Friday, Biden and his Education Department announced they have approved $4.28 billion in student debt for 54,900 borrowers in the Public Service Loan Forgiveness program, which forgives student debt for government and nonprofit workers after 10 years of qualifying payments.
Education Secretary Miguel Cardona stated, 'Four years ago, the Biden-Harris Administration made a pledge to America's teachers, service members, nurses, first responders, and other public servants that we would fix the broken Public Service Loan Forgiveness Program, and I'm proud to say that we delivered.'
This latest relief brings the total student-loan forgiveness under Biden to about $180 billion for nearly 5 million Americans, including $78 billion for just over 1 million borrowers enrolled in PSLF.
It's unclear if the Biden administration will announce more student-debt relief before President-elect Donald Trump takes office on January 20. Still, it caps off a tumultuous past few years for student-loan borrowers hoping for broad debt relief.
#student-loan-forgiveness #biden-administration #public-service-loan-forgiveness #education-department #debt-relief
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