Press Release
☷Biden Harris Administration Approves Additional $5 8 Billion in Student Debt Relief for 78 000 Public Service Workers
U.S. Department of Education ( By Press Release office)
Mar 23,2024
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President Biden plans to send an email to around 380 , 000 public service workers , expressing his gratitude for their service and informing them that their student loan debt may be cancelled through the Public Service Loan Forgiveness ( PSLF ) program within two years . The Biden - Harris Administration has recently announced the approval of an additional $5 . 8 billion in student loan debt relief for 77 , 700 borrowers . This brings the total loan forgiveness approved by the administration to $143 . 6 billion for 3 . 96 million Americans . The goal is to provide debt relief as quickly as possible to as many borrowers as they can . U . S . Secretary of Education Miguel Cardona stated that the administration is working to fix the issues and expand opportunities for public servants to access the debt relief they deserve . The recent announcement includes borrowers who have benefited from the administration ' s limited PSLF waiver and regulatory improvements to the program . Since October 2021 , the total relief through PSLF has reached $62 . 5 billion for 871 , 000 borrowers . Previously , only about 7 , 000 borrowers had received forgiveness before the Biden - Harris Administration ' s fixes . U . S . Department of Education Under Secretary James Kvaal expressed pride in providing relief for an additional 77 , 700 borrowers who have served their communities through public service . Furthermore , around 380 , 000 borrowers who are close to qualifying for forgiveness under PSLF will receive an email from President Biden in the coming week , acknowledging their service and informing them that they will be eligible for forgiveness within two years if they continue their public service work . The aim is to bring more Americans into public service and alleviate the burden of student loan debt . President Biden ' s email mentioned that his Administration has kept its promise to reduce student loan debt , and he encourages recipients to continue serving their communities . He also highlights the various efforts his Administration has made to alleviate student loan burdens , including increasing Pell Grants and implementing rules to protect borrowers . Additionally , the email discusses the state - by - state breakdown of borrowers who have had their loans forgiven through the Public Service Loan Forgiveness program . In mid - March 2024 , here ' s how much money each state made: Vermont made $197 . 2 , Virginia made $1 , 970 . 6 , Washington made $1 , 298 . 0 , West Virginia made $299 . 7 , Wisconsin made $997 . 4 , and Wyoming made $73 . 9 . All other locations made a total of $487 . 4 . Altogether , the total amount of money made was $62 , 498 . 2 . Just remember , these numbers might not add up perfectly due to rounding and timing .
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