"Biden Forgives $5.8 Billion in Student Debt for 78,000 Public Service Workers"

President Joe Biden announced the forgiveness of $5.8 billion in student loan debt for nearly 78,000 public-sector workers, with additional emails sent to 380,000 eligible borrowers. This forgiveness is part of the Public Service Loan Forgiveness (PSLF) program, which cancels debt after 10 years of monthly payments. The Biden administration has also utilized other existing student loan forgiveness programs to provide relief to specific groups of borrowers, and is conducting a one-time recount of past payments to fix administrative failures.