The Biden Administration has announced the cancellation of student debt for an additional 55,000 public service workers. This move increases the total number of individuals who have benefited from student debt relief under this administration to nearly five million. The beneficiaries include teachers, nurses, service members, law enforcement officials, and other public service workers who are receiving the relief they are entitled to by law.
In the past four years, significant progress has been made for students and borrowers. This includes securing the largest increase to the maximum Pell Grant award in over a decade and holding institutions accountable for exploiting students. Additionally, improvements have been made to programs like Public Service Loan Forgiveness and Income Driven Repayment.
President Joe Biden stated, "From Day One of my Administration, I promised to make sure that higher education is a ticket to the middle class, not a barrier to opportunity." He further emphasized that due to these actions, millions now have more financial flexibility to start businesses, save for retirement, and pursue life plans previously hindered by student loan debt.
