Biden Forgives $1.2 Billion in Student Loans in Latest Relief
- Debt assistance will help 35,000 public service workers
- Education Department has now forgiven $168.5 billion in debt
President Joe Biden.
Photographer: Daniel Steinle/BloombergThis article is for subscribers only.
President Joe Biden canceled an additional $1.2 billion in student debt for public servants on Thursday, the latest effort to provide loan relief and deliver on one of his signature initiatives in the midst of a reelection campaign.
The assistance will affect 35,000 public service workers enrolled in the government’s loan forgiveness program, including nurses, firefighters and teachers. The individuals received waivers or were affected by regulatory changes that gave them more credit toward the system’s decade-long payment requirement.