Investing.com -- The Biden administration announced today the cancellation of student debt for an additional 55,000 public service workers. This latest move brings the total number of individuals who have been approved for student debt relief under President Joe Biden's administration to nearly 5 million.
The public service workers who have been approved for debt cancellation include teachers, nurses, service members, law enforcement officials, and other individuals who have dedicated their lives to serving their communities. According to the administration, these workers are now receiving the debt relief they are entitled to under the law.
In the past four years, the administration has made notable strides for students and borrowers. These include securing the largest increase to the maximum Pell Grant award in over a decade, holding institutions accountable for exploiting students, and repairing broken student loan programs such as Public Service Loan Forgiveness and Income Driven Repayment.
"From Day One of my Administration, I promised to make sure that higher education is a ticket to the middle class, not a barrier to opportunity," Biden said in a statement. "Because of our actions, millions of people across the country now have the breathing room to start businesses, save for retirement, and pursue life plans they had to put on hold because of the burden of student loan debt."
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