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Total Student Loan Forgiveness Announced by End of 2025?
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Resolution / Starting Odds
Less than $200 billion • 25%
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Aggregate data from U.S. Department of Education reports
Story
Biden Cancels $4.28 Billion in Final Student Loan Forgiveness for 55,000 Public Servants
Dec 20, 2024, 01:01 PM
President Joe Biden has announced the cancellation of $4.28 billion in federal student loans for nearly 55,000 public service workers, as part of the final round of forgiveness before leaving office. The relief, provided through the Public Service Loan Forgiveness program, benefits teachers, nurses, service members, law enforcement officers, and other public servants who have worked 10 years or more in government or nonprofit roles. Specifically for public service workers, total forgiveness now amounts to $78 billion. This latest action brings the total amount of student debt forgiven under the Biden administration to an unprecedented $180 billion, covering approximately 4.9 million Americans.
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$10 billion to $15 billion • 25%
Less than $5 billion • 25%
More than $15 billion • 25%
$5 billion to $10 billion • 25%
Legal and political challenges • 25%
Increased public sector employment • 25%
Reduction in overall student loan debt • 25%
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Republican Party • 25%
Democratic Party • 25%
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Repayment Plan Overhaul • 25%
Interest Rate Reduction • 25%
Further Loan Forgiveness • 25%
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7 to 8 million • 25%
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