Biden announces $9 billion more in student debt relief

On Wednesday, U.S. president Joe Biden announced that his administration had approved additional $9 billion for student debt relief.

Biden said that he would pursue new measures for student loan relief after the Supreme Court rejected his plan to eliminate hundreds of billions in debt.

According to the president, the new announcement brings the total debt cancellation approved by his administration up to $127 billion. This is for approximately 3.6 million Americans.

This kind of relief can change the lives of individuals and their families. “But it’s also good for our overall economy,” he told journalists.


According to the White House fact sheet:

– Additional debt relief of $5.2 billion for 53,000 borrowers through the Public Service Loan Forgiveness


– Nearly $2.8 billion of new debt relief to 51,000 borrowers via fixes to the “income-driven payment,”

The White House claims that these are borrowers “who made payments for 20 years or longer but never received the relief to which they were entitled.”

A data match between the Social Security Administration and nearly 22,000 disabled borrowers identified through this program has been approved for discharge.

Biden said, “My administration will do everything we can to provide student debt relief as quickly as possible to as many people as we possibly can.”