The assistance applies to those in the Public Service Loan Forgiveness Program, which includes workers in law enforcement, public health and education as well as physicians, nurses and other healthcare workers. Eligibility is reserved for governmental employers and nonprofit organizations. Public health is a qualifying public service and applies to physicians, nurse practitioners and nurses in clinical settings.
According to Bloomberg, individuals in the latest round of loan forgiveness “received waivers or were affected by regulatory changes that gave them more credit toward the system’s decade-long payment requirement.” Recipients in previous rounds had made 120 qualifying monthly payments, about 10 years’ worth, and had the remainder of their debt balances canceled.
Under the Biden administration, the Education Department has forgiven $165.5 billion in student debt for nearly 5 million Americans. Borrowers have received an average of $35,000 in debt cancellation.
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