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An estimated 35,000 borrowers working in public service will get some $1.2 billion in approved student loan relief, according to the Biden-Harris administration.
The relief is part of the Public Service Loan Forgiveness (PSLF) Program that supports public servants such as teachers, nurses, and firefighters by forgiving the remaining balance of their student loans when they make 120 qualifying monthly payments.
The program has amassed $168.5 billion in student debt relief for 4.76 million borrowers. It also includes borrowers who benefited from limited PSLF waiver, which expired in October 2022.
“This is relief that will bring real change in their lives and marks another win for this Administration’s relentless and unapologetic work to fix a broken student loan system,” said U.S. Secretary of Education Dr. Miguel A. Cardona, noting that PSLF recipients can track and manage the process through StudentAid.gov.
The announcement of additional relief came during Cardona’s July 18 visit to Denmark, South Carolina, where he and U.S. Rep. James Clyburn of South Carolina toured Voorhees College and Denmark Technical College. They were scheduled to speak to borrowers who benefited from the administration’s student loan relief efforts.
“The Biden-Harris Administration’s actions to tackle the burden of student loan debt are making a difference in the lives of my constituents,” said Clyburn. “Every day, teachers, law enforcement officials and other government employees who have dedicated their lives to serving our community, are benefiting from the efforts of this Administration to lower costs and build an economy from the bottom up.”Â