An additional 125,000 Americans have been approved for approximately $9 billion in debt relief.
Education Secretary Dr. Miguel CardonaMichael Reynolds — EPA/Bloomberg
The Biden-Harris Administration has approved $5.2 billion in additional debt relief for 53,000 borrowers under Public Service Loan Forgiveness programs; nearly $2.8 billion in new debt relief for almost 51,000 borrowers through income-driven repayment plan fixes; and $1.2 billion in automatic relief for approximately 22,000 borrowers with total or permanent disabilities.
“For years, millions of eligible borrowers were unable to access the student debt relief they qualified for, but that’s all changed thanks to President Biden and this Administration’s relentless efforts to fix the broken student loan system,” said U.S. Secretary of Education Dr. Miguel A. Cardona. “The Biden-Harris administration’s laser-like focus on reducing red tape, addressing past administrative failures, and putting borrowers first have now resulted in a historic $127 billion in debt relief approved for nearly 3.6 million borrowers.
“Today’s announcement builds on everything our administration has already done to protect students from unaffordable debt, make repayment more affordable, and ensure that investments in higher education pay off for students and working families.”
After the Supreme Court struck down the administration’s initial student debt forgiveness plan, the White House has pursued other avenues for financial assistance, such as its SAVE plan and negotiated rulemaking via the Higher Education Act (HEA), the latter beginning this month.
