FOR IMMEDIATE RELEASE
October 17, 2024
Contact: Emma Bittner
(972) 510-3395 | Emma.Bittner@younginvincibles.org
New Forgiveness for Public Servants Marks a Welcome Milestone Amid Cancellation Challenges
(Washington, DC) – Today, the Biden-Harris Administration announced another portion of their student debt relief plan to provide critical forgiveness for public servants, bringing the debt relief total under the Biden-Harris Administration to $175 billion. Today’s relief aided another $4.7 billion in student debt cancellation for over 60,000 public service workers, bringing the Biden Administration’s total of borrowers who have seen debt canceled through Public Service Loan Forgiveness (PSLF) to over one million people.
This new wave of relief provides a historic number of borrowers of debt forgiveness and inches the Administration closer to following through on President Biden’s promise to cancel student debt.
In response, Kristin McGuire, Executive Director of Young Invincibles said:
“Student debt cancellation is a necessary step towards economic justice. Millions of borrowers have been diligently waiting for this essential relief after pursuing higher education with the promise of economic opportunity, only to be saddled with lifelong debt. This relief comes at a pivotal time, with the Biden-Harris Administration’s previous efforts continually being challenged in courts that are prioritizing politics over people.
This newest announcement provides relief for public servants through Public Service Loan Forgiveness (PSLF). This program is essential to bring new workers into the important roles of public service and reward their contributions. After years of very little forgiveness through PSLF, one million borrowers free from debt is a massive achievement.
Young Invincibles applauds every effort to forgive student debt and ease the burden on borrowers. Five million borrowers are breathing easier thanks to the actions of the Biden-Harris Administration. We can’t stop now, the Biden-Harris Administration must continue to follow through on their promise and find an equitable solution for the millions of borrowers who are still looking for relief to build their future.”
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Young Invincibles (YI) is a national advocacy and policy nonprofit organization focused on amplifying the voice of young people in the political process at the local, state, and federal levels. YI focuses on issues impacting young adults ages 18 to 34 in higher education, health care, economic security, and civic engagement. Our offices include Washington, D.C., California, Colorado, Illinois, New York, and Texas. For more information, please contact Emma Bittner at (972) 510-3395 or emma.bittner@younginvincibles.org