The Biden administration announced Thursday that over 1 million borrowers have had their student debt canceled under the Public Service Loan Forgiveness program. The announcement comes after the White House approved another $4.7 billion in student debt cancellation for 60,000 additional public service workers.
The Biden administration announced Thursday that 1 million borrowers have had their student debt canceled under the Public Service Loan Forgiveness program during his administration.The announcement comes after the White House approved another $4.7 billion in student debt cancellation for 60,000 additional public service workers. Prior to President Joe Biden taking office, the White House said that a mere 7,000 had received forgiveness under the PSLF program.
RELATED STORY | 30 million student loan borrowers to get email about student debt forgivenessOne of the programs that has faced legal battles is the Saving on a Valuable Education Plan, which offers forgiveness to borrowers who made payments for at least 10 years and originally took out up to $12,000. Eligible borrowers would have their loans automatically forgiven. Forgiveness through the SAVE Plan remains in limbo pending court rulings.
Student Debt Public Service Loan Forgiveness Biden Administration Debt Cancellation Education
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