Biden Announces Another $1.2 Billion in Debt Forgiveness for 35,000 Student Borrowers

President Joe Biden has announced that his administration will direct more funding to cancel or reduce the student loan balances of another 35,000 people through the Public Service Loan Forgiveness Program (PSLF).

In a July 18 statement, President Biden said the total number of Americans who have benefitted from the government’s various debt relief actions to date is at least 4.76 million and counting.

“Each of those borrowers has received an average of over $35,000 in debt cancellation,” he said.

“These 35,000 borrowers approved for forgiveness today are public service workers—teachers, nurses, law enforcement officials, and first responders—who have dedicated their lives to strengthening their communities, and because of the fixes we made to Public Service Loan Forgiveness, they will now have more breathing room to support themselves and their families.”

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