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The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [ 1]
In August 2022, the administration used the Act again to announce student debt cancellation of up to $20,000 and several other reforms. [7] [16] Following litigation brought by several Republican-led state governments, the Supreme Court ruled in Biden v. Nebraska (2023) that the statute did not permit the administration's debt forgiveness ...
U.S. District Judge John Ross in St. Louis had in June blocked the administration from continuing to provide debt forgiveness for some smaller loans in as few as 10 years, compared to the 20- or ...
President Biden today wiped away an additional $9 billion in student debt. Since he took office, his administration has discharged $127 billion in student loan debt for more than 3.5 million ...
U.S. President Joe Biden on Wednesday announced the cancellation of another $7.7 billion in student debt for 160,000 borrowers, bringing the total number of people to benefit from his debt relief ...
March 21, 2024 at 2:55 PM. President Biden announced another sweeping federal student loan forgiveness policy, wiping out $5.8 billion in debt for 77,700 borrowers. However, only certain borrowers ...
Future taxpayers will essentially pay the bill. All told, Biden's debt-cancellation plans will cost the government $559 billion in foregone revenue over the coming decade, according to analysis ...
The Biden administration discharged another $4.9 billion in student loan debt for more than 73,600 borrowers, the Education Department announced. That brings the total amount discharged since ...