President Joe Biden has canceled an additional $4.3 billion in student loans, providing relief to around 55,000 public sector workers. This decision, announced by the White House on Friday, brings the total number of people who have benefited from student loan forgiveness during Biden’s term to nearly five million.
“Keeping My Promise”
In his statement, Biden emphasized his commitment to making higher education more accessible:
“From day one of my administration, I promised to ensure higher education would be a pathway to opportunity, not a roadblock,” he said.
“Our efforts have given millions the breathing room to start businesses, save for retirement, and pursue life goals that were previously on hold due to student debt.”
Public Service Focus
This latest round of debt cancellation specifically targets public service workers like teachers, nurses, law enforcement officers, and service members who dedicate their careers to helping their communities.
In total, about $78 billion in student loans have been forgiven for 1.1 million public service workers under Biden’s leadership.
Challenges and Progress
While Biden has made significant strides in student debt relief, his broader plan to cancel loans for over 40 million people faced setbacks, including a rejection by the Supreme Court last year. Still, his administration has managed to secure nearly $180 billion in relief for borrowers, according to Education Secretary Miguel Cardona.
This act of forgiveness serves as a reminder of Biden’s efforts to address the student debt crisis and support those who serve their communities.