BREAKING: Biden Wipes Out $4.28 Billion in Student Debt for Public Service Workers—Are You Eligible?

Nearly 55,000 public servants will benefit from an additional $4.28 billion in student loan relief promised by the Biden administration. With this most recent action, nearly 5 million Americans will benefit from the approximately $180 billion in debt forgiveness under President Joe Biden’s direction. The action targets those who are engaged in the Public Service Loan Forgiveness (PSLF) program, which, after ten years of payments, forgives student loans for those in occupations including teaching, nursing, and firefighting.

After years of mismanagement left many eligible workers without the assistance to which they were entitled, President Biden promised that reforms had been made to the program. Teachers, nurses, service members, law enforcement officers, and other public servants who have devoted their lives to serving their communities are among the public servants who have been granted debt cancellation today. They are now receiving the relief to which they are legally entitled,” he said in a statement. The administration’s actions have resulted in the cancellation of over $78 billion in debt for over 1 million PSLF borrowers.

Biden reaffirmed his dedication to transforming higher education into a means of creating a brighter future.
“From day one of my Administration, I promised to make sure that higher education is a ticket to the middle class, not a barrier to opportunity,” he stated. “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.”