Biden Administration Cancels More Student Debt

Source: Meidas Touch

Today, the Biden-Harris Administration announced that it has conducted another cancellation of student loans for more than 54,000 Americans. The new debt relief brings the total number of Americans who have seen debt relief to more than four million.

Today's announcement comes as the Biden Administration has prioritized cancelling debt for individuals eligible under the Public Student Loan Forgiveness program. For years, the PSLF program had issues that prevented eligible borrowers from receiving debt relief. That changed over the past four years as the Biden Administration focused on fixing the issues with the PSLF program.

The individuals eligible for forgiveness under the PSLF program are those who have served at least ten years in public service including teachers, nurses, law enforcement officials, and more. The Biden Administration has also worked to institute the SAVE Plan to reduce monthly costs for borrowers who qualify. This is a program that the Trump Administration will seek to roll back in January.

While the Supreme Court blocked the Biden Administration's efforts for widespread relief for every borrower, the Administration has successfully cancelled billions in student debt.

Read more: https://meidasnews.com/news/biden-administration-cancels-more-student-debt