A program for the cancellation of student loan for public workers has granted relief to more than one (1) million Americans – up from just 7,000 who were approved before it was updated by the Biden administration two years ago.
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| President Joe Biden cancels Kelly’s $46,000 debt. Screenshot: @POTUS |
The Public Service Loan Forgiveness program was established in 2007, with the promise that the remainder of their federal student loans of college students would be zeroed out after 10 years working in government or nonprofit jobs.
President Joe Biden made the announcement on Thursday, saying, his administration has restored a promise to America’s teachers, firefighters, nurses and other public servants.
According to a 2018 report from the Government Accountability Office (GAO), it was found that 99% of applicants were denied, mostly because they weren’t in the appropriate loan repayment plan or because their payments had been paused temporarily through deferment or forbearance.
President Biden announced: “Because my Administration fixed the Public Service Loan Forgiveness program, Kelly – and over 1 million Americans – have the breathing room they deserve.”
Watch – President Biden makes Kelly “$46,000 richer”:
Because my Administration fixed the Public Service Loan Forgiveness program, Kelly – and over 1 million Americans – have the breathing room they deserve. pic.twitter.com/FPz9B6vrh7
— President Biden (@POTUS) October 17, 2024
