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Biden Administration Cancels $4.28 Billion in Student Loans for 55,000 Public Sector Workers, Totaling $78 Billion Forgiven

Dec 20, 2024, 10:25 AM

The Biden administration has announced a final round of student loan forgiveness, canceling approximately $4.28 billion in debt for about 55,000 public sector workers. This decision is part of the administration's broader efforts to provide relief to student loan borrowers before President Biden leaves office. The total amount of student debt forgiven for public service workers has now reached $78 billion, benefiting nearly 5 million Americans. This announcement comes just weeks before Donald Trump is set to take office, marking a significant conclusion to the Biden administration's student loan initiatives.