Biden-Harris Administration Approves $4.28 Billion in Student Loan Forgiveness for Public Service Workers

The Biden-Harris Administration has approved an additional $4.28 billion in student loan relief for 54,900 public service workers, continuing its commitment to tackling student debt. This latest round of loan forgiveness brings the total relief provided by the Administration to nearly $180 billion for 4.9 million borrowers.

“This is a promise kept to America’s teachers, nurses, first responders, and others who serve the public,” said U.S. Secretary of Education Miguel Cardona. “With the approval of $4.28 billion in forgiveness, we’re helping nearly 55,000 public servants reduce their financial burden. This is a direct result of our efforts to fix and improve the Public Service Loan Forgiveness (PSLF) Program.”

The PSLF Program is designed to reward individuals who dedicate their careers to public service by forgiving the remaining balance of their student loans after they make 120 qualifying monthly payments. Today’s relief includes borrowers who benefited from a temporary PSLF waiver program, which ended in October 2022, as well as those who have gained from regulatory changes introduced during the Biden-Harris Administration.

In a significant move to streamline the PSLF process, the Department of Education now fully manages the program through StudentAid.gov, providing borrowers with easier access to track their progress toward loan forgiveness. This shift, implemented in July 2024, replaces the previous system, which was managed by a single loan servicer.

The announcement highlights the Administration’s ongoing efforts to support federal student loan borrowers, particularly those in critical public service careers. Since taking office, the Biden-Harris Administration has approved a total of nearly $180 billion in student debt relief, benefiting millions of Americans.

Other actions taken by the Administration to assist borrowers include:

• $56.5 billion in debt relief for over 1.4 million borrowers through Income-Driven Repayment programs, including the new Saving on a Valuable Education (SAVE) plan.
• $28.7 billion in relief for more than 1.6 million borrowers impacted by school closures, fraud, or related legal settlements.
• $16.2 billion in forgiveness for nearly 572,000 borrowers with total and permanent disabilities.

In addition to these measures, the Biden-Harris Administration has worked to protect borrowers by raising the maximum Pell Grant by $900, marking the largest increase in a decade. The Administration has also put new regulations in place to shield borrowers from career programs that saddle graduates with excessive debt and insufficient earnings.

With the ongoing reforms and commitment to student loan relief, the Biden-Harris Administration continues to address the student debt crisis, providing much-needed support to Americans across the country.