Biden Administration Cancels $4.5 Billion in Student Debt, Total Relief Reaches $175 Billion for Over 1 Million Public Workers

Oct 17, 2024, 02:22 PM

The Biden administration announced the forgiveness of an additional $4.5 billion in student debt for over 60,000 public service workers, bringing the total debt relief under the Public Service Loan Forgiveness (PSLF) program to more than $74 billion for over 1 million borrowers. Since taking office, the administration has approved a total of $175 billion in student debt relief for nearly 5 million borrowers. This milestone marks a significant increase from just 7,000 approvals before the program was updated two years ago. The relief, announced 19 days before the upcoming election, benefits teachers, firefighters, nurses, first responders, and other public servants who have dedicated their careers to serving communities across the country.