Biden administration frees additional $6 billion in student debt for 78,000 public service employees

The Biden administration agreed additional round of student debt release for more than 78,000 debtors under the public service loan forgiveness (PSLF) package that impacts teachers, nurses, firefighters, social workers, and other public servants, plus the military.

The terminated amount totals $5.8 billion in student loan debt. The total debt support under PSLF is now $62.5 billion for 871,000 debtors since October 2021.

Under the prior administration, only 2% or around 7,000 PSLF borrowers obtained forgiveness.

“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,” Miguel Cardona, U.S. Secretary of Education, spoke in a press statement. “Today, more than 100 times more borrowers are eligible for PSLF than there were at the beginning of the administration.”