Over 615,000 public sector workers had student loans forgiven after Biden loosened rules

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by Madeleine Hubbard at justthenews.com

The Education Department on Monday said over 615,000 student-loan borrowers have had debts forgiven through the Public Service Loan Forgiveness program since October 2021 due to policy changes made by the Biden administration.

The government has forgiven a total of $42 billion in loans for public servants since October 2021, the department said.

“This is a result of the temporary [Public Service Loan Forgiveness] changes made by the Biden-Harris Administration that made it easier for borrowers to reach forgiveness,” the department also said. Under the Trump administration, 7,000 borrowers were approved for the forgiveness program.

The program allows public employees such as teachers and members of law enforcement as well as non-profit workers to pay their student loans for 10 years before being eligible to have the remaining balance forgiven.

In addition to those who have already had their loans forgiven, over 2 million public sector employees are “on the path to forgiveness” and more are in applying, the department said.

The Public Service Loan Forgiveness program is separate from the Biden administration’s proposed one-time student loan forgiveness that is currently being held up in court.

The administration expanded loan forgiveness for public servants by creating a one-year waiver expanding eligibility by removing some restrictions surrounding loan type or repayment plan. 

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