Federal Government Cancels $4.28 Billion in Student Loan Debt

Contact Your Elected Officials
The Epoch Times Header

The federal government also approved $16.2 billion in relief for nearly 572,000 borrowers with a total and permanent disability.

President Joe Biden announced on Dec. 20 that the federal government has canceled an additional $4.28 billion in student debt for 55,000 public service workers across the country.

In a statement, Biden said teachers, nurses, service members, and law enforcement officials, are among the public service workers who will benefit from the latest debt cancellation.

They are individuals who have โ€œdedicated their lives to giving back to their communities and who are finally earning the relief they are entitled to under the law,โ€ he said.

The latest approval brings the total amount of student loan forgiveness for public service workers to about $180 billion for nearly 5 million Americans, the U.S. Department of Education said in a Dec. 20 statement.

That includes $78 billion for more than 1 million borrowers, which was made possible through โ€œsignificant fixesโ€ to the Public Service Loan Forgiveness (PSLF) Program, the Department of Education said in the statement.

The PSLF was established in 2007 under President George W. Bush and grants loan forgiveness to individuals who have made monthly payments for 10 years while also working in public service.

The latest debt relief includes borrowers who have benefitted from the administrationโ€™s limited PSLF waiverโ€”which ended in October 2022โ€”and from โ€œregulatory improvementsโ€ made to the program during the current administration, the department said.

Biden said that since taking office, student debt forgiveness has been a priority in ensuring higher education is โ€œa ticket to the middle class, not a barrier to opportunity.โ€

In total, the federal government has approved $56.5 billion in debt relief for more than 1.4 million borrowers through Income-Driven Repayment, and $28.7 billion for more than 1.6 million borrowers who โ€œwere cheated by their schools, saw their institutions precipitously close, or are covered by related court settlements,โ€ according to the department.

The federal government has also approved $16.2 billion in relief for nearly 572,000 borrowers with a total and permanent disability and secured a $900 increase to the maximum Pell Grant, which is designed to help students from low-income households, according to the department.

Byย Katabella Roberts

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

On the Major Leagueโ€™s periphery: A major trip through the minors

For Nick Dunn, the trek through the minors is a trifecta of physical, mental, and organizational hurdles filled with politics, roster volatility, and injuries.

Peace In Ukraine Wonโ€™t End The Westโ€™s Hybrid War On Russia

The Westโ€™s Hybrid War on Russia to follow peace in Ukraine is inevitable due to neoconservatives and liberal-globalists in its decision-making ecosystem.

Was Texas Storm Manmade?

Another โ€œ1-in-100 yearsโ€ weather event in Kerr County happened next to a Texas designated โ€œWeather Modification Map of Rain-Enhancement Projects in Texasโ€.

The America Party Will Harm Democrats The Most

Elon Musk formed the America Party after an X poll asking his followers if they wanted โ€œindependence from the two-party system!

Democrats Exhibit the Dunning-Kruger Effect (DKE)

โ€œThe Dunning-Kruger effect is a cognitive bias where people with low ability at a task overestimate their competence, while those with high ability underestimate their competence.

Doctor Groups Sue RFK Jr. Over Altered COVID-19 Vaccine Recommendations

Health Sec. RFK, Jr.โ€™s decision to remove recommendations that healthy children and pregnant women receive COVID-19 vaccines was illegal, lawsuit alleges.

Los Angeles Mayor Confronts Federal Immigration Officers at MacArthur Park

After decrying federal immigration enforcement operations in Los Angeles, Mayor Karen Bass confronted ICE officers as they gathered at a city park.

What We Know About Victims of Texas Floods

The death toll from a series of devastating Texas floods over the July 4 weekend has risen to more than 100 people, many of whom are children.

Trial Begins Over Trump Adminโ€™s Deportations of Pro-Palestinian Students

A trial over President Trumpโ€™s attempts to deport pro-Palestinian activists began on July 7 with attorneys debating free speech.

Top Trump Officials to Hold Trade Talks With China in August

The Trump administrationโ€™s top trade negotiators are set to meet with Chinese officials in early August, Commerce Secretary Howard Lutnick said.

Trump, Netanyahu Meet for 2nd Consecutive Day at White House to Discuss Gaza

U.S. President Donald Trump is hosting Israeli Prime Minister Benjamin Netanyahu at the White House on July 8 for a second consecutive day.

Trump Extends Federal Hiring Freeze Until October

Trump issued memo extending federal hiring freeze until Oct. 15, maintaining exemptions for positions related to the armed forces and public safety.
spot_img

Related Articles