[Jack Aylmer]
THE BIDEN ADMINISTRATION ANNOUNCED THE CANCELLATION OF 4 POINT 28 BILLION DOLLARS IN STUDENT LOAN DEBT FOR 55,000 PUBLIC SERVICE WORKERS, BRINGING THE TOTAL STUDENT DEBT RELIEF APPROVED DURING BIDEN’S PRESIDENCY TO NEARLY 180 BILLION DOLLARS FOR ROUGHLY 4 POINT 9 MILLION BORROWERS.
THE BORROWERS INCLUDED IN FRIDAY’S CANCELLATION ARE PART OF THE PUBLIC SERVICE LOAN FORGIVENESS PROGRAM, WHICH FORGIVES FEDERAL STUDENT LOANS FOR GOVERNMENT AND NONPROFIT WORKERS AFTER 10 YEARS OF PAYMENTS. THE PROGRAM, ESTABLISHED IN 2007, FACED CRITICISM FOR BEING DIFFICULT TO NAVIGATE. IN 2021, THE BIDEN ADMINISTRATION IMPLEMENTED CHANGES TO ADDRESS ADMINISTRATIVE CHALLENGES AND SIMPLIFY THE PROCESS.
PRESIDENT BIDEN SAYS THE INITIATIVE…
