Biden Announces $127B In Student Debt Relief For 3.6 Million Americans

By Stacy M. Brown
Senior National Correspondent
@StacyBrownMedia

NNPA Newswire

President Joe Biden’s long-standing push that college “should be a pathway to the middle class rather than a financial burden on families” took a significant step forward this week. 

The Biden Administration approved an additional 125,000 Americans for $9 billion in debt relief. These measures, achieved through enhancements to income-driven repayment (IDR) and Public Service Loan Forgiveness, along with debt cancellations for those with permanent disabilities, bring the total approved debt relief during the Biden-Harris Administration to $127 billion for nearly 3.6 million Americans.

The approved relief includes:

• $5.2 billion in additional debt relief for 53,000 borrowers under Public Service Loan Forgiveness programs.

• Nearly $2.8 billion in new debt relief for nearly 51,000 borrowers through fixes to income-driven repayment. These borrowers made 20 years or more of payments but have yet to receive the relief they were entitled to.

• $1.2 billion for nearly 22,000 borrowers with a total or permanent disability, identified and approved for discharge through a data match with the Social Security Administration.