Student Loan Debt: Another $4.8B Forgiven

Biden announces $4.8 billion in student loan debt relief for more than 80,000 borrowers.

student loan debt worries
(Image credit: Getty Images)

The Biden administration is cancelling an additional $4.8 billion in student debt for roughly 80,000 people, through fixes made to the income-driven repayment (IDR) forgiveness and Public Service Loan Forgiveness (PSLF) programs.

Some $2.2 billion will go to 46,000 IDR borrowers and provide them “with an accurate count of progress toward forgiveness and address longstanding concerns with misuse of forbearance,” the Department of Education (DOE) said in a statement.

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Jamie Feldman

Jamie Feldman is a journalist, essayist and content creator. After building a byline as a lifestyle editor for HuffPost, her articles and editorials have since appeared in Cosmopolitan, Betches, Nylon, Bustle, Parade, and Well+Good. Her journey out of credit card debt, which she chronicles on TikTok, has amassed a loyal social media following. Her story has been featured in Fortune, Business Insider and on The Today Show, NBC Nightly News, CBS News, and NPR. She is currently producing a podcast on the same topic and living in Brooklyn, New York.