The Biden-Harris Administration announced the approval of approximately $1.2 billion in additional student loan relief for 35,000 public service workers. This move is part of ongoing efforts to address issues within the Public Service Loan Forgiveness (PSLF) Program. The recent approval brings the total loan forgiveness under the current administration to $168.5 billion for 4.76 million Americans, including $69.2 billion for 946,000 borrowers through PSLF.
“Once again, the Biden-Harris administration delivers on its historic efforts to reduce the burden of student debt—making needed and long overdue improvements to the Public Service Loan Forgiveness (PSLF) Program,” said U.S. Secretary of Education Miguel Cardona. “The additional Americans approved for PSLF today are hardworking public servants who will finally receive the financial breathing room they were promised—and all PSLF recipients can easily track and manage the process through StudentAid.gov.”
This relief results from a commitment by the Biden-Harris Administration to overhaul the PSLF Program, which supports various public servants by forgiving remaining student loan balances after 120 qualifying monthly payments.
The debt relief includes borrowers benefiting from a limited PSLF waiver that ended in October 2022 and regulatory improvements made by this administration.
Secretary Cardona will visit Denmark, South Carolina, with Congressman James Clyburn to announce this initiative at Voorhees College and Denmark Technical College.
“The Biden-Harris Administration’s actions to tackle the burden of student loan debt are making a difference in the lives of my constituents,” Congressman Clyburn said. “Every day, teachers, law enforcement officials and other government employees who have dedicated their lives to serving our community are benefiting from the efforts of this Administration to lower costs and build an economy from the bottom up.”
Further enhancements have been made to simplify participation in PSLF. As of July 1, 2024, borrowers can manage all aspects of their PSLF journey through StudentAid.gov rather than a single specialty loan servicer.
The Biden-Harris Administration has also taken steps beyond PSLF improvements:
- Approved $51 billion for over 1 million borrowers through administrative adjustments.
- Approved $28.7 billion for more than 1.6 million borrowers affected by school closures or related court settlements.
- Approved $14.1 billion for over 548,000 borrowers with total and permanent disabilities.
- Approved $5.5 billion for 414,000 borrowers through the SAVE Plan.
These measures reflect an ongoing effort to reduce student debt burdens and ensure educational opportunities remain accessible.
