As time is running out in his administration, President Joe Biden is forgiving more student loans -- $4.28 billion in student debt for 54,900 borrowers in the Public Service Loan Forgiveness program, which President-elect Trump proposed to eliminate during his first term.
This latest student debt cancellation is for government and nonprofit workers after 10 years of qualifying payments, and caps off a tumultuous few years for student loan borrowers hoping for broad debt relief. This cancellation brings “the total number of individuals who have been approved for student debt relief under my Administration to nearly 5 million people through various actions,” Pres. Biden said in a White House statement. That includes $78 billion for roughly 1 million borrowers through PSLF.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
