The Biden administration is cancelling an additional $4.8 billion in student debt for roughly 80,000 people, through fixes made to the income-driven repayment (IDR) forgiveness and Public Service Loan Forgiveness (PSLF) programs.
Some $2.2 billion will go to 46,000 IDR borrowers and provide them “with an accurate count of progress toward forgiveness and address longstanding concerns with misuse of forbearance,” the Department of Education (DOE) said in a statement.
