Biden Admin Processes Backlogged Student Loan Forgiveness Applications
The Biden administration has approved an additional $4.28 billion in student loan forgiveness, benefiting 55,000 public service workers enrolled in the Public Service Loan Forgiveness (PSLF) program. This brings the total number of borrowers receiving debt relief under the Biden administration to nearly five million. These recent approvals, largely due to program simplification efforts, follow years of criticism regarding the PSLF program’s complexity. The administration cites this action as fulfilling its promise to ease the burden of student loan debt and create economic opportunities for millions of Americans.