White House Forgives Student Loans for Over 150,000 More Borrowers
Biden-Harris administration Monday Announce Another round of student loan forgiveness, canceling balances for more than 152,000 borrowers. The total amount of loans forgiven is nearly $4 billion.
Latest relief news applies to three groups: 6,100 borrowers signed up Public Service Loan Forgiveness Program; 85,000 borrowers were defrauded or defrauded by their schools; 61,000 borrowers were totally or permanently disabled. That brings the total amount of student loan forgiveness the government has provided to more than 5 million borrowers over the past four years to $183.6 billion.
Senior administration officials have not confirmed whether this is the final round of clemency before President-elect Donald Trump takes office next Monday (Jan. 20). However, Education Undersecretary James Kvaal said in a statement that the current administration anticipates that the student loan forgiveness program has already been authorized by Congress, such as PSLF and approved an income-driven repayment plan to proceed.
Notifications are being sent to eligible borrowers, so keep an eye on your email to see if your balance has been forgiven. You can also check your student loan and forgiveness status at: Student Aid Network.
Read more: New student loan relief ‘buyback’ program could help you get debt relief faster
