“Today's announcement by Secretary of Education Cardona fulfills a promise the nation made to forgive the student loans of tens of thousands of individuals who have dedicated years to public service. This is long overdue. The Biden administration inherited a Public Service Loan Forgiveness program that has failed over multiple administrations to provide promised loan relief to borrowers who take on some of the most important roles in our society, including teachers, front line health professionals, first responders, social workers, and members of the military.
The Department of Education’s statement is a forthright acknowledgement of the program's previous shortcomings and institutes fixes that will immediately help thousands of borrowers. At the same time, the announcement lays out a roadmap for a comprehensive reform of the program, one that will serve those who commit to public service and through them, will serve the nation. We applaud that commitment. As Secretary Cardona made clear, at the end of the day, the program needs to be comprehensively and permanently revamped, and legislation is required to accomplish that. We look forward to working with the administration and Congress to that end.
The individuals who entered this program in good faith and who have worked for years on behalf of the public good deserve action, and they need it now. This announcement is a welcome first step.”