Biden's administration announced $4.2 billion in student-debt cancellation for over 152,000 borrowers, specifically benefiting PSLF workers, defrauded students, and those with disabilities.
Neera Tanden stated, '5 million Americans now have the breathing room to afford homes, save for retirement, and start a family,' emphasizing the significance of the relief efforts.
The Education Department specified that 6,100 PSLF borrowers are receiving $465 million while 61,000 borrowers with disabilities receive $2.5 billion in debt discharges.
A significant portion of the newly approved discharges—$1.26 billion—is dedicated to 85,000 borrowers who claim they were defrauded by educational institutions.
#student-loan-forgiveness #biden-administration #public-service-loan-forgiveness #debt-cancellation #higher-education-fraud
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