The announcement is the latest in a series of loan forgiveness actions by the administration after the Supreme Court last year struck down Biden’s much broader plan.

In a new wave of student loan forgiveness, the Biden administration is canceling $5 billion in debt for 74,000 borrowers, many of whom worked in public sector jobs for more than a decade.

President Joe Biden said that 44,000 of Friday’s approved borrowers were having their education debt wiped clean after 10 years of public service, and that those borrowers included teachers, nurses and firefighters. Nearly 30,000 borrowers have worked toward repayment for at least 20 years but “never got the relief they earned through income-driven repayment plans,” Biden said in a statement.

It’s the latest round of loan forgiveness efforts after the Supreme Court struck down the White House’s student loan debt relief plan last year. Since the ruling, the White House has launched a series of smaller relief programs.

  • DontMakeMoreBabies
    link
    fedilink
    1711 months ago

    Half way to being forgiven with the PSLF program.

    Feels like a fair trade? A decade of public work for far less pay than I’d make in the private sector in exchange for advanced schooling.

    • @agitatedpotato@lemmy.world
      link
      fedilink
      1
      edit-2
      11 months ago

      Lucky. I get paid by the government for my work but I technically don’t work for them so guess who’s not even eligible.