The Biden administration has canceled more than $4 billion in student loan debt for nearly 55,000 people.
The administration has now canceled $180 billion in federal student loans for 4.9 million Americans.
“Four years ago, the Biden-Harris Administration made a pledge to America’s teachers, service members, nurses, first responders, and other public servants that we would fix the broken Public Service Loan Forgiveness Program, and I’m proud to say that we delivered,” U.S. Secretary of Education Miguel Cardona said. “With the approval of another $4.28 billion in loan forgiveness for nearly 55,000 public servants, the Administration has secured nearly $180 billion in life-changing student debt relief for nearly five million borrowers.”
“The U.S. Department of Education’s successful transformation of the PSLF Program is a testament to what’s possible when you have leaders, like President Biden and Vice President Harris, who are relentlessly and unapologetically focused on making government deliver for everyday working people.”
President Joe Biden confirmed the debt cancellation in a statement.
“Today, my Administration is announcing student debt cancellation for another 55,000 public service workers, bringing the total number of individuals who have been approved for student debt relief under my Administration to nearly 5 million people through various actions,” he said. “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.”
“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,” 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.”