In a significant boost for public servants, President Joe Biden announced $4.5 billion in student debt relief just ahead of the presidential election. The relief package targets 60,000 borrowers under the Public Service Loan Forgiveness (PSLF) program, including teachers, nurses, and government employees who have served for a decade or more. Biden emphasized that this is part of his administration’s commitment to correcting past failures in student debt forgiveness, which previously benefitted only 7,000 people.
With Vice President Kamala Harris running as the Democratic nominee, the announcement underscores the administration’s focus on reducing economic burdens for middle-income Americans amid rising living costs. Harris affirmed the administration’s dedication to higher education affordability, echoing Biden’s long-term push to ease the $1.6 trillion student debt crisis in the U.S.
