President Joe Biden is doling out another $6 billion in student debt forgiveness.
His administration announced Thursday another 77,700 borrowers will have their remaining student debt balances forgiven under the Public Service Loan Forgiveness program.
Borrowers who have been making loan payments and working in public service for at least 10 years will begin receiving emails next week congratulating them on having their debt forgiven and thanking them for their service.
They aren’t the only borrowers who will be hearing from the president soon though.
Starting next week, 380,000 public service workers who are two years or fewer away from earning forgiveness will receive an email from President Biden thanking them for their contributions and encouraging them to keep going.
“Public service workers — from teachers to nurses, firefighters, and more — are the lifeblood of democracy and our communities,” the emails read. “If you continue your career in public service, you’re on track to get your eligible student loans forgiven in less than two years through Public Service Loan Forgiveness.”
Prior to President Biden’s election, just 7,000 borrowers had received debt relief through PSLF, according to the administration. Since Biden took office, more than 871,000 borrowers have had their debt canceled as the administration made fixes and updates to the program.
“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,” Secretary of Education Miguel Cardona said in a statement.
“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.”
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