NASHVILLE, Tenn. (WTVF) — President Joe Biden's administration announced it will cancel 9 billion in student loan debt for more than 100-thousand borrowers.
This comes days after student loan repayments resumed for borrowers after a more than three-year pause.
This will apply to public servants, disabled borrowers, and some borrowers who have been making payments for more than 20 years.
The Biden administration is continuing to do what it can after the Supreme Court voted down the administration's plan for broad student loan forgiveness back in June. This new push uses existing debt relief programs to help 125 thousand borrowers.
About 53 thousand borrowers who are enrolled in Public Service Loan Forgiveness programs will get $5.2 billion forgiven.
That includes people who work for the government, non-profit organizations, teachers, social workers, and law enforcement.
22 thousand borrowers who have a total or permanent disability will get their debt completely forgiven for a total of $1.2 billion.
The Biden administration said some people who are under income driven repayment plans, or IDRs, their programs have not accurately tracked their payments. So, 51 thousand borrowers who fall under that and who have been making payments for more than 20 years will get $2.8 billion forgiven.
Since Biden has been in office, the White House said it has canceled $127 billion of debt for 3.6 million borrowers.
