President Joe Biden’s administration announced $4.28 billion in student loan relief for almost 55,000 public service workers, bringing the total loan forgiveness under the administration to around $180 billion for nearly 5 million Americans.
The loan relief is aimed at individuals enrolled in the Public Service Loan Forgiveness program (PSLF), benefiting jobs such as firefighting, nursing, and teaching after 10 years of continuous payments.
The big picture: Notable public servants included in the debt cancellation are teachers, nurses, service members, law enforcement officials, and other public service workers who have devoted their careers to serving their communities.
- Of the 5 million borrowers who have received debt relief, over 1 million were through the PSLF program, accounting for about $78 billion in total forgiveness by the administration.
What they’re saying: “The public servants approved for debt cancellation today include teachers, nurses, service members, law enforcement officials, and other public service workers who have dedicated their lives to giving back to their communities and who are finally earning the relief they are entitled to under the law,” Biden said in a statement.
- Biden added, “Because of our actions, millions of people across the country now have the breathing room to start businesses, save for retirement, and pursue life plans they had to put on hold because of the burden of student loan debt.”
