Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Gen V Season 2 trailer
    Videos

    Gen V Season 2 Trailer Cast, Plot, Premiere Details

    July 26, 2025 3 Min Read
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Biden Admin Announces $4.9 Billion Student Loan Relief for 74,000 Borrowers
PhotoNews PakistanPhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
President Joe Biden Immigration Reform
PhotoNews Pakistan > Top News > Biden Admin Announces $4.9 Billion Student Loan Relief for 74,000 Borrowers
Top NewsWorld

Biden Admin Announces $4.9 Billion Student Loan Relief for 74,000 Borrowers

Web Desk
By Web Desk Published January 20, 2024 1 Min Read
Share
During a speech in Tempe, Arizona, President Joe Biden strongly criticized the menace of 'extremist' politics. (Photo: Ross D. Franklin / AP )
SHARE

President Joe Biden has approved a substantial student loan relief package, erasing $4.9 billion in debt for about 74,000 borrowers, as reported by USA Today. This relief targets long-term borrowers under income-driven repayment plans and the Public Service Loan Forgiveness (PSLF) program.

Prompted partly by a nonpartisan watchdog report, the Education Department’s revisions facilitate this relief. This latest action aligns with Biden’s ongoing commitment to student loan forgiveness, a response to the Supreme Court’s dismissal of a broader relief plan last summer.

Today, my administration approved debt cancellation for another 74,000 student loan borrowers.

This brings the total number of people who have gotten their debt canceled under my administration to over 3.7 million Americans. pic.twitter.com/M7tsd73rYd

— Joe Biden (@JoeBiden) January 19, 2024

Biden reaffirms his resolve, asserting his intention to use all available means for student loan relief. For 29,700 borrowers in income-driven plans, $1.7 billion in debt relief follows a reevaluation of their payment periods. Those who have been paying for over 20 years, identified post-adjustment, are now eligible for complete forgiveness.

An additional $3.2 billion benefits 43,900 PSLF participants. The government’s reassessment of their payments accelerates their path to debt clearance.

President Biden on Friday canceled nearly $5 billion in student loan debt for 74,000 people, most of whom are teachers, nurses, firefighters and others in public service. More than 43 million Americans owe $1.6 trillion in federal loans for college. https://t.co/8fNaKxz5vu

— The New York Times (@nytimes) January 19, 2024

Since last fall, the Biden administration has rigorously reviewed income-driven repayment accounts and reevaluated PSLF payments. This methodical approach is part of a broader initiative to prioritize student debt relief, possibly influencing political dynamics ahead of November’s elections.

TAGGED:Featured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

AWS outage 2025

Major Internet Outage Hits Dozens of Services Worldwide

Pakistan South Africa 2nd Test 2025 Rawalpindi

Pakistan Ends Day 1 at 259/5 in Second Test Against South Africa

NADRA recruitment in Sindh

NADRA to Recruit 200 Junior Executives Officers in Sindh

Post Archives

More Popular from Photonews

Colombia U.S. sovereignty violation
Top NewsWorld

Colombia’s President Petro Accuses Trump of Violating Sovereignty

3 Min Read
Punjab Section 144 TLP 2025
Punjab

Punjab Govt Extends Section 144 Amid TLP Security Concerns

2 Min Read
Angel Reese Victoria’s Secret Fashion Show
Sports

Angel Reese Makes History at 2025 Victoria’s Secret Fashion Show

3 Min Read
Top NewsWorld

Mexico Floods Claim 64 Lives, Rescue Efforts Underway

Rescuers in central and eastern Mexico raced to reach isolated communities after floods killed 64 people…

October 14, 2025
Tech

China’s Unitree Robotics Unveils the World’s Most Agile Humanoid Robot

China-based Unitree Robotics has unveiled its latest innovation, the H2 humanoid robot, named “Destiny Awakening.” This…

October 20, 2025
Tech

Meta Introduces Parental Controls for Teen AI Chats on Instagram

Meta announced new parental controls for teen interactions with AI characters on Instagram, following criticism over…

October 17, 2025
Business

KSE-100 Index Rebounds Strongly on Pak-US Ties and IMF Optimism in October 2025

The Pakistan Stock Exchange (PSX) benchmark KSE-100 Index rebounded strongly, closing at 162,969.67 after rising 4,526.25…

October 14, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?