The White House is issuing student loans to over 150,000 additional borrowers
The Biden-Harris administration on Monday announced another round of student loan forgiveness that wiped out the balances of over 152,000 borrowers. The loans granted amount to almost $4 billion.
The latest relief news applies to three groups: 6,100 borrowers are enrolled in the EU Public Service Lending Program; 85,000 borrowers defrauded or defrauded by their schools; and 61,000 borrowers with total or permanent disabilities. This brings the total amount of federal student loan forgiveness for over 5 million borrowers over the past four years to $183.6 billion.
Senior administration officials have not confirmed whether this is the final round of forgiveness before President-elect Donald Trump takes office next Monday, Jan. 20. However, Undersecretary of Education James Kvaal made the announcement saying that the current administration expects student loan forgiveness programs already approved by Congress, such as: PSLF and approved income-driven repayment plans to proceed.
Notifications will be sent to eligible 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: The new student loan forgiveness “buyback” program could help you get debt relief sooner
