The Biden administration recently revealed that it’s forgiving an additional $4.5 billion in student debt for more than 60,000 public sector employees.
As per multiple outlets, this latest round of forgiveness brings the student loan debt canceled under President Joe Biden to more than $175 billion, affecting nearly 5 million people and accounting for 11 percent of all federal student loans.
The following announcement was made through the Department of Education's Public Service Loan Forgiveness Program.
This enables the government to forgive federal student loans for certain nonprofit and government employees after a 10-year period.
The program was established in 2007 by President George W. Bush.
White House hopes that this initiative will help Harris to gain support among young and Black voters.
Harris recently revealed new policy proposals for black men, which include forgivable small business loans and access to a new legal recreational marijuana industry.
According to the new policies, about 1 million loans of up to $20,000 are fully forgivable to entrepreneurs in various communities.
