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Joe Biden Student Loans Administration Announces $4.8 Billion in Additional Student Loan Debt Relief

The Joe Biden Student Loans, Biden-Harris Administration has taken historic action to provide student loan debt relief to millions of borrowers. With the latest announcement of an additional $4.8 billion in relief, the Administration has now approved nearly $132 billion in total debt cancellation benefitting over 3.6 million Americans. This article provides an in-depth look at the recent student loan announcements and what they mean for borrowers.

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Overview of Latest Relief Package

On December 1st, 2022, the Administration announced the approval of $4.8 billion in student loan forgiveness for around 80,300 borrowers. This relief is thanks to fixes made by the Department of Education to the Public Service Loan Forgiveness (PSLF) program and income-driven repayment (IDR) forgiveness plans.

The PSLF program forgives student loan balances for borrowers working in public service after 120 qualifying payments. Meanwhile, IDR plans allow borrowers to make affordable payments based on income and family size, with forgiveness after 20 or 25 years of payments.

This newest relief package aims to correct past issues that prevented eligible borrowers from receiving the loan forgiveness they deserved through these programs. The Administration will continue working to rectify problems that have prevented full delivery of the PSLF and IDR programs.

Total Approved Student Loan Relief Under Biden

Including this latest announcement, the Biden Administration has now approved nearly $132 billion in student debt cancellation benefitting over 3.6 million borrowers across the country.

This monumental debt relief is thanks to various targeted actions, including:

  • Improvements to PSLF and IDR forgiveness
  • Relief for borrowers with disabilities
  • Fixes for borrowers impacted by school misconduct
  • Expanded eligibility for certain cancellation programs

The below table summarizes the total student loan relief provided under the Biden Administration as of December 2022:

Relief ProgramTotal Approved Forgiveness# of Borrowers Helped
Public Service Loan Forgiveness$10 billion175,000
Total and Permanent Disability Discharges$11.1 billion733,500
Borrower Defense and School Closures$17 billion207,000
Income-Driven Repayment Forgiveness$74 billion1.85 million
One-Time IDR Account Adjustment$16 billion575,000
Total$132 billion3.6 million

This extensive debt relief is part of the Administration’s goal to provide families with financial breathing room as they recover from the pandemic and to ensure student debt is not a lifelong burden preventing borrowers from achieving financial stability.

Who Benefits from The Latest Relief?

The additional $4.8 billion in PSLF and IDR forgiveness will provide much-needed relief for over 80,000 borrowers who have worked in public service or made affordable payments for at least 20 years.

Many of these borrowers have spent years in repayment believing they were meeting program requirements to achieve loan forgiveness. However, technical issues like servicing errors or receiving inaccurate information prevented their successful transition to forgiveness status.

The latest improvements address these past failures and help public servants and IDR enrollees receive the forgiveness they earned through diligent repayment. Nurses, teachers, military members, and other public sector employees represent the bulk of borrowers seeing relief.

Overall, the new round of forgiveness fixes long-standing issues plaguing PSLF and IDR that have disproportionately impacted borrowers dedicating their careers to public interest work.

Ongoing Efforts to Streamline Relief Delivery

In announcing the additional wave of student loan cancellations, Secretary of Education Miguel Cardona reiterated that delivering promised student debt relief remains a top priority for the Department of Education.

The Department is working to identify and assist borrowers who qualify for forgiveness under current programs but have not been able to access relief. Reviews conducted in 2022 uncovered servicing mistakes impacting PSLF eligibility for thousands of borrowers. Over 75% of borrowers previously denied PSLF forgiveness were actually eligible based on updated eligibility criteria.

These findings demonstrated vast improvements were still needed to uphold the promise of earned forgiveness. By investing resources into auditing borrower accounts, updating eligibility requirements, automating form processing, and direct outreach to impacted communities, the Administration aims to continues ramping up responsible and equitable relief delivery.

Secretary Cardona emphasized, “We are committed to helping borrowers who choose to pursue Public Service Loan Forgiveness get the forgiveness they have earned…We’ve built a team that is laser-focused on improving the PSLF program.”

Looking Ahead

While critics argue broad student loan forgiveness sets an unfair precedent, proponents cite positive projected outcomes – both for individual borrowers and the overall economy.

Initial results back these claims. Following blanket debt relief in late 2022, over 80% of surveyed recipients said the cancellations reduced stress and anxiety in their daily lives. Other respondents reported better ability to afford medical care, set up emergency savings, and even start small businesses.

As 2023 begins, the Administration plans further policy proposals and investments in higher education access. While debate continues surrounding mass student debt cancellation, incremental solutions through existing forgiveness programs provide real change for millions presently struggling with loans.

“I’m incredibly proud of the historic work we’ve done to rectify failings in the past and provide families breathing room,” remarked Secretary Cardona on the Department’s forgiveness efforts so far. “We still have a long road ahead, but we won’t stop working each day to build a future where Americans don’t need to take on debt for an education.”


The Biden Administration’s latest round of student loan relief approvals continues the historic progress towards providing meaningful change for borrowers locked in debt. Close to $5 billion in new PSLF and IDR forgiveness helps fulfill past broken promises made to teachers, nurses, military members and other public servants.

Ongoing audits aim to uncover additional eligible borrowers wrongly denied access to cancellation programs. Coupled with efforts to simplify and streamline relief delivery channels, the Department hopes all qualified applicants can smoothly transition to fully canceled loan balances.

While debates around mass student loan forgiveness show no signs of stopping, millions of borrowers and families presently enjoy greater financial stability thanks to targeted debt relief. The Administration reaffirms addressing the student debt crisis remains an urgent priority in building a fairer future of education access.

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