Biden Cancels $4.7 Billion in Student Debt for 60,000 Public Service Workers

The Biden administration has tried to forgive $175 billion in student debt for almost 5 million Americans, or about $35,000 each.

President Joe Biden listens to a briefing on Hurricane Milton in the Eisenhower Executive Office Building on the White House campus on Oct. 9. Anna Moneymaker/Getty Images

President Joe Biden said on Oct. 17 that his administration has forgiven an additional $4.7 billion in student debt for more than 60,000 public service workers.

This brings the amount of student debt forgiveness to public service workers to more than $73 billion for more than 1 million people under the Public Service Loan Forgiveness (PSLF) program, which was created in 2007 under President George W. Bush and allows for people to have their student debt forgiven after 10 years in public service with a decade of payments.