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In Biden's last announcement on student-loan forgiveness, he canceled over $600 million in debt for nearly 9,000 borrowers.
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
One month before President Biden leaves the White House, the Biden administration announced it has forgiven student loan debt for 54,900 public service workers.
In August, the Biden administration announced $10,000 in student loan forgiveness along with an additional $10,000 in forgiveness for Pell Grant recipients. Single borrowers who make less than ...
Biden’s signature, one-time student loan forgiveness program was struck down by the Supreme Court last year. It would have canceled up to $20,000 of student debt for many low- and middle-income ...
The Public Service Loan Forgiveness program was created in 2007, promising college graduates that the remainder of their federal student loans would be zeroed out after 10 years working in ...
In the summer of 2023, the Supreme Court ruled to strike down Biden’s student loan forgiveness program, which would have canceled up to $20,000 of debt for roughly 43 million eligible borrowers.
Today’s changes are the result of a long-standing effort by the Biden administration to fix the federal repayment program. Today, total relief through PSLF now equals $62.5 billion for 871,0000 ...