Student Loan Forgiveness: With less than three weeks remaining before the November election, the Biden-Harris administration is highlighting its efforts to provide historic student debt relief, despite ongoing legal challenges from Republicans who have criticized the program’s cost and attempted to block its implementation in court.
On Thursday, the administration announced an additional round of student loan forgiveness, bringing the total amount of debt canceled to over $175 billion for nearly 5 million borrowers since President Biden took office. This represents roughly 11% of the total federal student loan debt.
Among those benefiting from the relief, over 1 million borrowers have received forgiveness through the Public Service Loan Forgiveness (PSLF) program, which offers loan forgiveness to public-sector workers such as teachers and nurses after 10 years of qualifying payments. Although the PSLF program has existed for over 15 years, it has faced significant administrative challenges in the past.
Meeting the promises
In a statement, President Biden explained that for too long, the government had failed to meet its promises, noting that only 7,000 people had received PSLF forgiveness prior to his administration. He emphasized that he and Vice President Kamala Harris had committed to fixing the program.
The Biden administration’s Department of Education has streamlined the process, making it easier for borrowers to qualify for PSLF. This contrasts with former President Donald Trump’s repeated calls to end the program during his tenure.
Thursday’s announcement will provide approximately $4.5 billion in student debt relief to 60,000 borrowers through the PSLF program.
Biden’s broader student loan forgiveness plan, which aimed to cancel up to $20,000 for many low- and middle-income borrowers, was struck down by the Supreme Court last year. In 2022, 16 million borrowers received notifications that they were eligible for relief under this program, but no loan forgiveness was ultimately granted.
Student loan relief
In an interview on the “Call Her Daddy” podcast, Vice President Harris was asked about borrowers who had been promised forgiveness but have not received relief. She responded that the administration is continuing to fight for student debt relief, emphasizing how student debt creates barriers for people trying to start families or buy homes.
Other recent relief efforts, including a new repayment plan called Saving on a Valuable Education (SAVE), are also caught up in litigation filed by Republican-led states. These states argue that the Department of Education lacks the authority to implement such costly debt-relief initiatives.
In a statement on Thursday, Harris expressed her commitment to overcoming opposition from Republican leaders, who she said are blocking critical economic relief for millions of their constituents. She vowed to keep working on lowering costs, making higher education more affordable, and reducing the burden of student debt.
Despite the Supreme Court ruling, the Biden administration has continued to provide substantial student debt relief through existing programs, benefiting specific categories of borrowers. The administration has simplified eligibility criteria and streamlined the application process for various programs.
Student loan reforms
For example, the Biden administration has helped approximately 572,000 permanently disabled borrowers access the debt relief they are entitled to. It has also forgiven loans for more than 1.6 million borrowers who were defrauded by their colleges—an effort that was hindered during the Trump administration but ultimately succeeded under Biden.
The Department of Education has also implemented reforms to the PSLF program. Previously, many borrowers thought they qualified for PSLF only to discover later that they were in the wrong repayment plan or had the wrong type of loan. Education Secretary Miguel Cardona recalled hearing from borrowers who described the program as a “cruel joke” or a “broken promise” due to these issues.
The Biden administration is conducting a one-time review of borrowers’ past payments to ensure that any miscounts are corrected, bringing many borrowers closer to forgiveness. Changes to PSLF now also allow borrowers to receive credit for late, installment, or lump-sum payments toward forgiveness.
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