The Biden administration’s overhaul of a largely moribund student debt forgiveness program for public-service employees has led to $8.1 billion in approved relief for 145,000 borrowers since October.
Last fall, the Education Department instituted a waiver for its Public Service Loan Forgiveness program, which was created by Congress in 2007 to encourage students to enter professions like teaching, nursing and public-interest law. The waiver was intended to make it easier for more public-service workers to qualify for debt relief, after the Education Department revealed that since its creation only 5,500 borrowers had seen their debt wiped clean under the program.
The Biden administration’s overhaul of a largely moribund student debt forgiveness program for public-service employees has led to $8.1 billion in approved relief for 145,000 borrowers since October.
Last fall, the Education Department instituted a waiver for its Public Service Loan Forgiveness program, which was created by Congress in 2007 to encourage students to enter professions like teaching, nursing and public-interest law. The waiver was intended to make it easier for more public-service workers to qualify for debt relief, after the Education Department revealed that since its creation only 5,500 borrowers had seen their debt wiped clean under the program.