Washington (AP) — The Biden administration is canceling federal student loans for an additional 55,000 workers under an existing program called Public Service Loan Forgiveness.
The Education Department’s statement on Friday is aimed at teachers, nurses, service personnel, law enforcement officials, and others who have become eligible under the program, which pledges to forgive loans after 10 years of work in government or nonprofit jobs.
The $4.28 billion in relief is believed to be the last tranche of public sector loan forgiveness before President Joe Biden leaves office in January.
After failing to deliver on his promise of broad loan cancellation, Biden has instead concentrated on increasing loan relief through initiatives established before his presidency.
Under Biden, the Education Department relaxed the regulations for Public Service Loan Forgiveness, which had previously received a 99% rejection rate due to cumbersome rules and widespread uncertainty about qualifying conditions.
With the newest round of relief, Biden has canceled a record $180 billion in federal student loans through existing programs, affecting 4.9 million Americans. This includes $78 billion for about 1 million borrowers via PSLF.
“From Day One of my Administration, I promised to make sure that higher education is a ticket to the middle class, not a barrier to opportunity,” Biden wrote in a press release. “Because of our actions, millions of people across the country now have the breathing room to start businesses, save for retirement, and pursue life plans they had to put on hold because of the burden of student loan debt.”
Nonetheless, the Democrat has gone short of his pledge to provide widespread relief to millions of other Americans. Biden’s first attempt at mass cancelation was rejected by the Supreme Court, and his second attempt is still embroiled in a legal battle initiated by Republican states.
In October, he suggested another rule that would cancel loans for persons experiencing certain types of financial hardship, although it is unlikely to take effect.
Trump has not outlined his second-term student loan intentions, but during the campaign, he labeled Biden’s cancelation proposals unlawful and “vile.”
Republicans in Congress have attacked Biden’s cancellation effort, claiming it unjustly shifts the responsibility to taxpayers who did not attend college or have already returned their debts.
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