WASHINGTON, D.C. — In a move aimed at easing the financial burden on public service workers, the Biden-Harris Administration has given the green light for an additional $5.8 billion in student loan debt relief, benefiting 77,700 borrowers. This announcement, made today, comes as a result of crucial fixes made to the Public Service Loan Forgiveness (PSLF) program.

The total loan forgiveness approved by the Biden-Harris Administration now stands at $143.6 billion, providing relief to nearly 3.96 million Americans. This significant action underscores President Biden’s commitment, along with his Administration, to swiftly address the student debt crisis and extend support to as many borrowers as possible.

“For too long, our nation’s teachers, nurses, social workers, firefighters, and other public servants faced logistical troubles and trap doors when they tried to access the debt relief they were entitled to under the law. With this announcement, the Biden-Harris Administration is showing how we’re taking further steps not only to fix those trap doors but also to expand opportunity to many more Americans,” said U.S. Secretary of Education Miguel Cardona.

This latest relief package includes borrowers who have benefited from the Administration’s limited PSLF waiver, as well as regulatory enhancements made to the program. Since October 2021, the total relief provided through PSLF has reached $62.5 billion, aiding 871,000 borrowers. Prior to the Administration’s interventions, only about 7,000 borrowers had ever received forgiveness.

Related Stories

Student Loan Debt Relief for more Borrowers

“Today, more than 100 times more borrowers are eligible for PSLF than there were at the beginning of the Administration. The Biden Administration is turning a promise broken under our predecessor into a promise kept,” Secretary Cardona adds.

“The Biden-Harris Administration is proud to provide relief for another 77,700 borrowers who have given back to their communities through public service,” said U.S. Department of Education Under Secretary James Kvaal. “We hope this relief provides borrowers and their families some much-needed breathing room.”

An additional nearly 380,000 borrowers who are within two years, or 24 qualifying payments, of receiving forgiveness under PSLF will also receive an email from President Biden starting next week thanking them for their service and notifying them that if they continue in their public service work, they will be eligible for forgiveness within that time frame:

“The Public Service Loan Forgiveness Program is an important way to bring more Americans into public service and help them get out from under the burden of student loan debt. But for too long, the program failed to live up to its commitments – and public service workers like you never got the relief you are entitled to under the law because of errors and administrative failures. I vowed to fix that, and I’m proud that my Administration has delivered on that promise. I hope you continue the important work of serving your community – and if you do, in less than two years, you could get your remaining student loans forgiven through Public Service Loan Forgiveness.”

Email from POTUS Joe Biden on Thursday, March 21, 2024 to borrowers within two years, or 24 qualifying payments, of receiving forgiveness under PSLF.

The Biden-Harris Administration has demonstrated an unparalleled commitment to easing the burden of student debt. In addition to the relief under PSLF, the Administration has secured significant assistance for borrowers through various avenues, including improvements to income-driven repayment plans, support for victims of fraudulent institutions, and assistance for those with total and permanent disabilities.

The updated state-by-state breakdown of borrowers approved for forgiveness under PSLF, including today’s announcement, can be found below: