This post was originally published on The Washington Informer
By Stacy M. Brown
In another significant move toward alleviating financial burdens on public service workers, President Joe Biden declared Thursday the approval of nearly $6 billion in federal student debt cancellation.
According to the White House, the initiative should benefit about 78,000 eligible people, including teachers, nurses and firefighters.
The impact could resonate notably within the District of Columbia, where more than 21% of the workforce is employed in the public service sector, with average hourly wages hovering slightly above $25.
Biden emphasized the measure’s significance, highlighting the workers’ dedication to their communities and addressing past administrative oversights that denied them rightful relief.
“From day one of my administration, I promised to fix broken student loan programs and make sure higher education is a ticket to the middle class, not a barrier to opportunity,” Biden affirmed. “I won’t back down from using every tool at my disposal to deliver student debt relief to more Americans and build an economy from the middle out and bottom up.”
The latest announcement marks another stride in the administration’s efforts to provide relief through the Public Service Loan Forgiveness programs, designed to forgive remaining debt for eligible borrowers who have fulfilled specific payment criteria while employed by approved organizations.
The move follows a similar action in January, when approximately $5 billion in debt was forgiven for about 74,000 public-sector borrowers. Since assuming office, Biden has sanctioned a historic nearly $144 billion in federal loan forgiveness, benefiting approximately 4 million borrowers nationwide.
To address student debt concerns further, the White House announced it would commence notifying around 380,000 borrowers next week about their eligibility to have their student debt canceled within the next two years.
The president’s broader student loan debt relief plan faced a setback when the U.S. Supreme Court invalidated it, citing the necessity for explicit congressional approval. Republican members of Congress, especially those doing the bidding of the twice-impeached and four-times indicted former President Donald Trump, have fought against loan forgiveness.
Despite that hurdle, the Biden-Harris administration said it remains committed to exploring avenues for comprehensive relief within legislative frameworks.
The post Biden Approves $6 Billion in Student Debt Cancellation for Public Service Workers appeared first on The Washington Informer.