Biden Announces $6 Billion Student Debt Relief for 78K Public Service Workers
President Joe Biden has unveiled a significant move to alleviate financial burdens for public service workers, approving the cancellation of nearly $6 billion in federal student debt for approximately 78,000 eligible individuals. This initiative targets teachers, nurses, firefighters, and other essential workers who have dedicated their careers to serving their communities.
The announcement underscores Biden’s commitment to rectifying past administrative shortcomings and ensuring equitable access to student loan relief. By utilizing tools such as the Public Service Loan Forgiveness programs, eligible borrowers can have their remaining debt forgiven after meeting specific criteria and working for approved employers.
This latest action follows previous debt cancellation efforts initiated by the administration earlier this year, which saw approximately $5 billion in debt relief for 74,000 public-sector borrowers. Since taking office, the White House has approved nearly $144 billion in federal loan forgiveness, benefiting around 4 million borrowers across the nation.
Additionally, the White House plans to reach out to approximately 380,000 borrowers next week to inform them of their progress toward qualifying for student debt cancellation within the next two years.
While Biden’s broader student loan debt relief plan faced legal challenges, including a Supreme Court ruling last year, this targeted approach aims to provide tangible assistance to public service workers while navigating legal constraints.
