Biden-Harris Administration Approves Additional $5.8 Billion in Student Debt Relief for 78,000 Public Service Workers
March 21, 2024
President Biden will email an additional 380,000 public service workers thanking them for their service and notifying them they are on track to have their debt cancelled through PSLF within two years
The Biden-Harris Administration announced today the approval of $5.8 billion in additional student loan debt relief for 77,700 borrowers. These approvals are the result of fixes made by the Administration to Public Service Loan Forgiveness (PSLF). Today’s announcement brings the total loan forgiveness approved by the Biden-Harris Administration to $143.6 billion for 3.96 million Americans. This action builds on President Biden and his Administration’s efforts to provide debt relief to as many borrowers as possible as quickly as possible.
“For too long, our nation’s teachers, nurses, social workers, firefighters, and other public servants faced logistical troubles and trap doors when they tried to access the debt relief they were entitled to under the law. With this announcement, the Biden-Harris Administration is showing how we’re taking further steps not only to fix those trap doors, but also to expand opportunity to many more Americans,” said U.S. Secretary of Education Miguel Cardona. “Today, more than 100 times more borrowers are eligible for PSLF than there were at the beginning of the Administration. The Biden Administration is turning a promise broken under our predecessor into a promise kept.”
The debt relief announced today includes borrowers who have benefitted from the Biden-Harris Administration’s limited PSLF waiver as well as regulatory improvements made to the program by the Administration. Total relief through PSLF is now $62.5 billion for 871,000 borrowers since October 2021. Prior to the Biden-Harris Administration’s fixes to PSLF, only about 7,000 borrowers had ever received forgiveness.
