Statement from President Joe Biden on $1.2 Billion in Student Debt Cancellation for 35,000 Borrowers

Statement from President Joe Biden on $1.2 Billion in Student Debt Cancellation for 35,000 Borrowers | The White HouseSkip to contentThe White HouseThe White House The White House Home AdministrationPrioritiesThe RecordBriefing RoomEspañol InstagramOpens in a new windowFacebookOpens in a new windowXOpens in a new windowYouTubeOpens in a new window Contact UsPrivacy PolicyCopyright PolicyAccessibility Statement MenuCloseTo search this site, enter a search termSearchMobile Menu OverlayAdministrationShow submenu for “Administration””President Joe BidenVice President Kamala HarrisFirst Lady Dr. Jill BidenSecond Gentleman Douglas EmhoffThe CabinetExecutive OfficesShow submenu for “Executive Offices””Council of Economic AdvisersCouncil on Environmental QualityDomestic Policy CouncilGender Policy CouncilNational Economic CouncilNational Security CouncilNational Space CouncilOffice of Intergovernmental AffairsOffice of Management and BudgetOffice of the National Cyber DirectorOffice of National Drug Control PolicyOffice of Public EngagementOffice of Science and Technology PolicyOffice of the United States Trade RepresentativeClimate Policy OfficePresidential Personnel OfficePrioritiesBriefing RoomThe White HouseShow submenu for “The White House””PresidentsFirst FamiliesThe GroundsOur GovernmentGet InvolvedShow submenu for “Get Involved””Write or Call The White HouseJoin UsWhite House FellowsWhite House Internship ProgramThe RecordDisclosuresEspañol Contact UsPrivacy PolicyCopyright PolicyAccessibility Statement InstagramOpens in a new windowFacebookOpens in a new windowXOpens in a new windowYouTubeOpens in a new window The White House 1600 Pennsylvania Ave NW Washington, DC 20500 To search this site, enter a search termSearchJuly 18, 2024 Statement from President Joe Biden on $1.2 Billion in Student Debt Cancellation for 35,000 Borrowers Home Briefing Room Statements and Releases Today, my Administration is canceling student debt for 35,000 people through Public Service Loan Forgiveness, bringing the total number of Americans who have benefitted from our various debt relief actions to 4.76 million people. Each of those borrowers has received an average of over $35,000 in debt cancellation. These 35,000 borrowers approved for forgiveness today are public service workers – teachers, nurses, law enforcement officials, and first responders who have dedicated their lives to strengthening their communities, and because of the fixes we made to Public Service Loan Forgiveness, they will now have more breathing room to support themselves and their families.Today’s announcement comes on top of the significant progress we’ve made for students and borrowers over the past three years. That includes providing the largest increases to the maximum Pell Grant in over a decade; fixing Income-Driven Repayment so borrowers get the relief they are entitled to under the law; and holding colleges accountable for taking advantage of students and families. And earlier this year, I laid out my Administration’s new plans that would cancel student debt for more than 30 million Americans when combined with everything we’ve done so far.From day one of my Administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity. I will never stop working to make higher education affordable – no matter how many times Republican elected officials try to stop us.### Stay ConnectedSign UpEmail Address* RequiredZIP CodePlease leave blank.We'll be in touch with the latest information on how President Biden and his administration are working for the American people, as well as ways you can get involved and help our country build back better. Opt in to send and receive text messages from President Biden. ShareShare this page on FacebookShare this page on Xhttps://www.whitehouse.gov/briefing-room/statements-releases/2024/07/18/statement-from-president-joe-biden-on-1-2-billion-in-student-debt-cancellation-for-35000-borrowers/?utm_source=link HomeThe AdministrationExecutive OfficesPrioritiesThe RecordBriefing RoomThe White HouseDisclosuresGet InvolvedEspañol Contact UsPrivacy PolicyCopyright PolicyAccessibility Statement InstagramOpens in a new windowFacebookOpens in a new windowXOpens in a new windowYouTubeOpens in a new window The White House 1600 Pennsylvania Ave NW Washington, DC 20500 WH.gov Scroll to Top Scroll to Top Top