Biden Announces $5.8 Billion in Student Debt Forgiveness for Public Service Workers

The relief targets 78,000 borrowers, with plans to reach out to an additional 380,000 potentially eligible for future forgiveness.

President Joe Biden announced $5.8 billion in student debt forgiveness for 78,000 public service workers, with plans to send congratulatory emails to those borrowers.
An additional 380,000 borrowers who may be eligible for debt relief within the next one or two years will also receive emails from Biden encouraging them to continue their public service.
The Public Service Loan Forgiveness (PSLF) program targets qualifying borrowers like teachers, social workers, and government lawyers, offering debt cancellation after 10 years of monthly payments.
The Biden administration has canceled a total of $144 billion of federal student loan debt for nearly 4 million borrowers to date, through existing programs targeting specific groups.
The administration is conducting a one-time recount of borrowers’ past payments to fix administrative failures, potentially benefiting those steered into inappropriate forbearance.