The Biden administration’s overhaul of a largely moribund student debt forgiveness program for public-service employees has led to $8.1 billion in approved relief for 145,000 borrowers since October.
Last fall, the Education Department instituted a waiver for its Public Service Loan Forgiveness program, which was created by Congress in 2007 to encourage students to enter professions like teaching, nursing and public-interest law. The waiver was intended to make it easier for more public-service workers to qualify for debt relief, after the Education Department revealed that since its creation only 5,500 borrowers had seen their debt wiped clean under the program.
