The White House has approved nearly $144 billion in federal loan forgiveness for about 4 million borrowers in total, according to the administration.

The White House has approved nearly $144 billion in federal loan forgiveness for about 4 million borrowers in total, according to the administration.

President Joe Biden announced Thursday that the White Househas approved the cancellation of nearly $6 billion in federal student debt for thousands of public service workers.

The 78,000 eligible public service workers include teachers, nurses and firefighters, according to the White House.

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It’s the latest student debt cancellation move through Public Service Loan Forgiveness programs, which allow eligible borrowers to have their remaining debt forgiven if they have made a certain number of payments and are working for approved employers.

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Last year, the Supreme Court invalidated Biden’s more far-reaching student loan debt relief plan, arguing that it was unlawful because Congress did not explicitly approve the move.

  • dumples@kbin.social
    26·
    8 months ago

    Still haven’t affected me yet but I’m glad there’s some forgiveness. I just keep waiting for mental health practitioners forgiveness. Since most don’t work in “non profit” hospitals they have been missing out on the forgiveness. Even though most make little when large amounts of debt from maters programs.

    I’m still happy there is some forgiveness though