AFT’s Weingarten Hails Biden Administration’s Latest Announcement: $4.9 Billion Student Loan Debt Relief for Borrowers

WASHINGTON--American Federation of Teachers President Randi Weingarten issued the following statement after the Biden administration announced the approval of $4.9 billion in additional student loan debt relief for 73,600 borrowers:

“The Biden-Harris administration continues to show its commitment to making life better for everyday Americans, delivering on its promise to make student debt relief a reality for the millions of borrowers still struggling under a crushing debt burden. Today’s announcement makes clear that the administration is thinking about debt forgiveness on multiple levels, and pursuing as many strategies as possible to help make sure this economic and moral imperative gets done -- building on their progress that has helped 3.7 million so far.

“The magnitude of today’s relief is game-changing: $1.7 billion will help nearly 30,000 borrowers with adjustments to Income Driven Repayments, and $3.2 billion works to make good on the promise of the Public Service Loan Forgiveness program, helping educators, nurses and other public service workers discharge their debt after 10 years of repayment. In total, the Biden-Harris administration has approved $45.7 billion in IDR relief and $56.7 billion in PSLF relief overall, a staggering investment in our country’s continued economic recovery, and in making affordable, accessible higher education a reality for many generations to come.”