(LibertySons.org) – President Joe Biden is once again attempting to tackle student loan debt by taking advantage of a little-used program that’s been in place for public workers for years. The move will open the doors for social workers, teachers, firefighters, nurses, and other public servants to access relief the administration claims they’re due under the law.
Biden’s dreams of eliminating all student debt shattered in June 2023 when the US Supreme Court ruled that his executive order stepped beyond his authority as commander in chief. The president had pledged during his campaign that he would seek to erase existing student loan payments for all Americans, and he attempted to follow through with that promise.
The president’s plan would have canceled up to $20,000 for people who qualified, providing relief to roughly 43 million citizens and forgiving up to $400 billion of owed funds. Nearly half of all borrowers would have seen their debts fully erased.
The new plan will help up to 78,000 Americans, erasing nearly $6 billion in student debts, bumping the total to 870,000 public service workers the administration has already aided. The White House issued a press release detailing the move on March 21.
Biden claims public service workers have always been entitled to this relief through the Public Service Loan Forgiveness (PSLF) program, but “past administrative failures” kept them from receiving their benefits. The president stated that “fixes” to the system will allow more people than ever — over 100 times the number of borrowers — to remove their debts. Before the administration’s actions, only about 7,000 people had received PSLF relief.
The Department of Education states that an additional 380,000 borrowers who have fewer than 24 qualifying payments left on their loans will soon see help with their debts as well. The move might not reach all Americans, but it’s about as close as the administration will likely get to honoring Biden’s original promise.
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