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The Biden administration has approved debt relief for an additional 125,000 student loan borrowers, totaling $9 billion in forgiveness, the White House said Wednesday.
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]
With the latest action, the administration said it has canceled $167 billion in student debt for nearly 5 million Americans through several programs. Biden administration canceling student loans ...
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 ...
In October 2021, the Biden administration used the HEROES Act to reform a student debt forgiveness program for public workers. [15] In August 2022, the administration used the Act again to announce student debt cancellation of up to $20,000 and several other reforms.
In a new wave of student loan forgiveness, the Biden administration is canceling $5 billion in debt for 74,000 borrowers, many of whom worked in public sector jobs for more than a decade.
To date, the Biden administration has forgiven $143.6 billion in student loan debt for 3.96 million borrowers. In addition to relief given to PSLF borrowers, 959,700 borrowers have received $47.3 ...
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 ...