Announced by the administration on Friday, the latest debt relief that will affect mainly teachers, nurses and firefighters comes on the heels of a separate announcement earlier in the month fast-tracking the Saving on a Valuable Education (SAVE) program.
"Nearly 44,000 of them are teachers, nurses, firefighters and other individuals who earned forgiveness after 10 years of public service, and close to 30,000 of them are people who have been in repayment for at least 20 years but never got the relief they earned through income-driven repayment plans,"
The Biden administration on Friday announced its latest incremental step to cancel student loan debt. Around 74,000 borrowers, many of them public employees, will receive $5 billion in relief under the latest program.
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