Biden administration announces $4.3 billion in student loan reliefs
U.S. President Joe Biden announced on Friday an additional $4.28 billion in student loan relief for 55,000 public service workers. The debt cancellation will benefit individuals enrolled in the Public Service Loan Forgiveness (PSLF) program.
With this new allocation, the total amount of loan forgiveness under the Biden administration will reach 5 million people, totaling $180 billion in debt relief.
“The public servants approved for debt cancellation today include teachers, nurses, service members, law enforcement officers, and other dedicated public service workers who have committed their lives to serving their communities. They are finally receiving the relief they are entitled to under the law,” President Biden said in a statement.
In the same release, the White House highlighted its ongoing efforts to address shortcomings in the student loan system, including securing “the largest increase to the maximum Pell Grant in over a decade, holding institutions accountable for exploiting students, and reforming broken programs like Public Service Loan Forgiveness and Income-Driven Repayment.”
Source(s)
The White House (In English)
