Many of the programs that the Biden administration is using have existed for years, sometimes decades, but were notoriously troubled, forcing borrowers to navigate complicated bureaucratic hurdles. By adjusting rules and temporarily waiving some requirements, Education Department officials have accelerated long-delayed relief. Here are the four largest programs being used to eliminate loan debts — and how five borrowers benefited from them.
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Public Service Loan Forgiveness
Debts canceled: $51 billion for 715,000 borrowers
Income-Driven Repayment Adjustment
Debts canceled: $42 billion for 855,000 borrowers
Borrower Defense to Repayment and Closed-School Discharge
Debts canceled: $22.5 billion for 1.3 million borrowers
Total and Permanent Disability
Debts canceled: $11.7 billion for 513,000 borrowers
From the article (archive):
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