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Biden Forgives $4.5 Billion in Student Debt, Over 1 Million Public Workers Aided

Oct 17, 2024, 01:20 PM

The Biden administration announced on Thursday that it is forgiving an additional $4.5 billion in student debt for over 60,000 public service workers through the Public Service Loan Forgiveness (PSLF) program. This brings the total amount of debt forgiven under the PSLF program to $74 billion for over 1 million public servants, including teachers, nurses, firefighters, and other public sector employees. Overall, the administration has forgiven more than $175 billion in student debt for nearly 5 million borrowers since taking office, more than any administration in history. The PSLF program was overhauled by the Biden administration two years ago; prior to these changes, only 7,000 public service workers had their loans forgiven. The latest action comes less than three weeks before the presidential election.