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The Biden administration said Thursday that it is forgiving nearly $6 billion in student loans for 78,000 more public service workers through its Public Service Loan Forgiveness program.
The current student debt relief effort will affect teachers, nurses, firefighters and others public service workers. The Biden administration said so in his briefing it has so far canceled the student debt of more than 870,000 public service employees.
About 4 million citizens in total have had their student debt forgiven by the administration through various relief programs, the White House said in a statement.
Last month, the government approved $1.2 billion in loan forgiveness for nearly 153,000 borrowers, who are eligible for a reduced timeline for forgiveness under the Saving on a Valuable Education (“SAVE”) plan.
Student Loan Ticker: SoFi Technologies (SOFI), Navient (NAVI), NelNet (NNI), SLM Corp. (SLM).
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