The Biden-Harris administration on Monday published an additional round of student loan forgiveness, canceling the balances of over 152,000 borrowers. The forgiven loans total almost 4 billion dollars.
The latest relief news concerns three groups: 6,100 borrowers enrolled in Public Service Loan Forgiveness Program; 85,000 borrowers who were defrauded or defrauded by their schools; and 61,000 borrowers with total or permanent disability. This brings the administration's total amount of student loan forgiveness to $183.6 billion for over 5 million borrowers over the past four years.
Senior administration officials have not confirmed whether this is the last round of pardons before President-elect Donald Trump takes office next Monday, January 20. However, Under Secretary of Education James Quall shared in a statement that the current administration is looking forward to student loan forgiveness programs already authorized by Congress, such as PSLF and approved income-based repayment plans to continue.
Notifications are sent to qualified borrowers, so keep an eye on your email to see if your balances have been forgiven. You can also check the status of your student loans and forgiveness at StudentAid.gov.
Read more: A new student loan forgiveness “buyout” program can help you get out of debt faster