Biden fixes Public Service Loan Forgiveness 700,000 public servants receive $42 billion

The Biden administration announces fixes to the broken Public Service Loan Forgiveness (PSLF) program that had denied 99% of applicants under prior rules despite Congress's intent to forgive student loans for government and nonprofit workers after 10 years of payments. The administration's Limited PSLF Waiver, announced in October 2021 and expanded in 2022, credits previously ineligible payments and loan types toward the 120-payment threshold. By October 2022, the administration announces that 700,000 public servants, teachers, nurses, social workers, firefighters, and military servicemembers, receive a combined $42 billion in forgiveness. By the end of Biden's term, over 876,000 public servants receive PSLF relief.