Thousands of student loan borrowers, including teachers, nurses, law enforcement and first responders, have some debt relief coming their way.
The Biden Administration announced Thursday that it plans to cancel $1.2 billion in student loan debt for 35,000 public service workers.
"Because of the fixes we made to Public Service Loan Forgiveness, they will now have more breathing room to support themselves and their families," President Joe Biden said.
This latest wave of debt forgiveness follows substantial improvements made by the administration to streamline participation for eligible individuals, according to the U.S. Department of Education.
"This is relief that will bring real change in their lives and marks another win for this administration's relentless and unapologetic work to fix a broken student loan system," U.S. Secretary of Education Miguel Cardona said in a statement.
Before Biden took office, only 7,000 people benefited from the program due to strict eligibility rules. Since revamping the PSLF, the administration has forgiven $69.2 billion in outstanding loan balances belonging to 946,000 borrowers.
The president's other initiatives for broad student debt relief, including the income-driven repayment plan SAVE introduced last year, have faced recent legal challenges.
