"Biden Administration Forgives $5.8 Billion in Student Debt for 78,000 Borrowers, Including Public Sector Workers"

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Source: CNBC
"Biden Administration Forgives $5.8 Billion in Student Debt for 78,000 Borrowers, Including Public Sector Workers"
Photo: CNBC
TL;DR Summary

The Biden administration has announced the forgiveness of $5.8 billion in student debt for 77,700 borrowers through the Public Service Loan Forgiveness program, with plans to notify an additional 380,000 public service workers about their eligibility for debt cancellation. This move is part of the administration's efforts to address issues with the program and provide relief to public servants, with nearly 4 million people having already received $143.6 billion in debt relief.

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