9M PSLF Student Loans Debt Forgiveness

Joe Biden has reformed a student-loan forgiveness programme for the military and firemen. But these measures are temporary, and millions of borrowers still need help.

On 9th June,  SBPC estimated the amount of debtors eligible for Public Service Loan Forgiveness (PSLF), which forgives college debt for public officials. 

In October, the agency implemented a limited-time waiver until October 31, 2022, allowing borrowers to count payments from any federal loan programs  under PSLF

The SBPC reported that while over 9 million public servants have school debt and are eligible for loan forgiveness, just 2% have received relief.

"The Biden Administration is promising a debt-free future for public sector workers," SBPC Executive Director Mike Pierce stated.

The SBPC joined with a coalition of labour organisations representing over 7.5 million workers to promote PSLF enrollment.

Before Biden's administration, 98% of PSLF applicants were denied, therefore he promised to change it.

While these improvements are ongoing, the president is also considering loan forgiveness for all federal borrowers, which won't be announced until July or August.

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