Nearly 500,000 student loan borrowers will get emails from Biden. But they won’t all receive immediate debt relief
CNN
President Joe Biden announced another round of student loan debt forgiveness Thursday, totaling $5.8 billion for nearly 78,000 public-sector workers, and will be sending congratulatory emails to those borrowers next week.
President Joe Biden announced another round of student loan debt forgiveness Thursday, totaling $5.8 billion for nearly 78,000 public-sector workers, and will be sending congratulatory emails to those borrowers next week. Additionally, 380,000 borrowers who may be eligible for debt relief within the next one or two years will also be getting emails from Biden with a message that says “keep it up!” “If you continue your career in public service, you’re on track to get your eligible student loans forgiven in less than two years through Public Service Loan Forgiveness,” an example email provided by the White House reads. Under the forgiveness program, known as PSLF, qualifying borrowers – like teachers, social workers, some nurses and doctors, and government lawyers – are eligible for student debt cancellation after making 10 years of monthly payments. The emails come as the Biden administration is eager to remind voters in an election year about how it has approved more student debt cancellation than under any other president – despite the fact that the Supreme Court knocked down its broad student loan forgiveness program last year. That program would have canceled up to $20,000 for low- and middle-income borrowers, for an estimated total of $430 billion of debt relief.
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