Biden administration has discharged $34 billion in student debt
Ronda Lee
September 6, 2022
The Biden administration has discharged $34 billion in student loan debt for 1.7 million borrowers since the president took office a little more than seven months ago.
The discharged debt includes $10 billion for over 175,000 borrowers through the public service loan forgiveness (PSLF) waiver; $9 billion for permanent disability discharges for more than 425,000 borrowers; and $14.5 billion for nearly 1.1 million defrauded borrowers, according to figures the Education Department (ED) provided Yahoo Money.
The discharges, which are not part of President Joe Biden’s forgiveness of up to $20,000 in student loans announced last week, underscore the administration’s efforts to address the student debt crisis.
