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Home»Finance News»Biden forgives $4.28 billion in student debt for 54,900 PSLF borrowers
Finance News

Biden forgives $4.28 billion in student debt for 54,900 PSLF borrowers

December 20, 2024No Comments1 Min Read
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Biden forgives .28 billion in student debt for 54,900 PSLF borrowers
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U.S. President Joe Biden delivers remarks on the economy at the Brookings Institution in Washington, DC, U.S. December 10, 2024. 

Kevin Lamarque | Reuters

The Biden administration announced Friday that it would forgive another $4.28 billion in student loan debt for 54,900 borrowers who work in public service.

The relief is a result of fixes the U.S. Department of Education made to the once-troubled Public Service Loan Forgiveness program.

The debt relief comes in President Joe Biden’s final weeks in office.

Biden has forgiven more student debt than any other president. He has cleared nearly $180 billion for 4.9 million people with student debt.

Still, Republican-led legal challenges have stymied all of Biden’s attempts at delivering wide-scale relief.

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See also  Trump bill helps wealthy, hurts low earners: Yale report
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