Topline
President Joe Biden will cancel an additional $9 billion worth of student debt the White House announced, after federal student loan repayments restarted this month following a three-year pause due to the pandemic.
Key Facts
According to the White House, the latest loan relief will help 125,000 Americans and is a result of changes made to federal programs for low-income individuals, public servants and borrowers with disabilities.
The relief includes $5.2 billion in debt forgiveness for 53,000 borrowers under the Public Service Loan Forgiveness programs, which covers public service employees in federal, state or local government.
Around 51,000 borrowers who made 20 years or more of payments will get $2.8 billion in de…
Read the full article at: https://www.forbes.com/sites/siladityaray/2023/10/04/student-loans-biden-announces-extra-9-billion-in-debt-relief-for-125000-americans/