Biden-Harris Administration Forgives $12B in Student Loans for Workers

The Biden-Harris administration has recently achieved a significant milestone in its efforts to alleviate student debt, especially for those in public service. In their latest action, student loans for an additional 35,000 public service employees have been forgiven, thanks to improvements made to the Public Service Loan Forgiveness (PSLF) program.

Since the Biden-Harris administration took office, the number of borrowers benefiting from the PSLF program has reached 946,000, with a total of $69.2 billion in loans forgiven. This marks a significant increase from the 7,000 individuals who had their loans forgiven before these reforms were implemented.

The administration's collaboration with AFSCME has been pivotal in revamping the PSLF program, which is designed to encourage careers in public service by forgiving federal direct student loans after a decade of repayments.

Moreover, the administration's broader efforts in student debt relief have culminated in $168.5 billion in forgiven student loans, positively affecting 4.76 million borrowers nationwide. Last April, President Biden and Vice President Harris had discussions with AFSCME members who have benefited from these initiatives, underscoring the administration's commitment to addressing the student loan crisis.

However, the future of this progress could be uncertain if Donald Trump were to secure a second term. His Project 2025 proposes to dismantle the PSLF program, along with other measures that could adversely affect public service workers.

Supporters of the PSLF program are encouraged to take action to defend it. For more information on AFSCME’s resources regarding student debt, you can visit their resource page.