Biden Announces Additional $4.8B Student Debt Relief

Biden Announces Additional $4.8B Student Debt Relief

Biden Announces Additional $4.8B Student Debt Relief

The Biden administration on Wednesday unveiled a fresh wave of student debt relief on Wednesday, forgiving $4.8 billion for approximately 80,300 individuals.

The announcement propels the total student debt cancellation under President Joe Biden’s tenure to a staggering $132 billion, benefiting over 3.6 million Americans, reported Axios.

The newly approved relief aligns with the administration’s strategic focus on rectifying the issues plaguing the Public Service Loan Forgiveness (PSLF) program. PSLF seeks to obliterate the student loan balances of public service workers who have diligently served for a decade while making 120 qualifying payments.

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