The Biden administration on Wednesday approved an additional $9 billion in student loan relief for up to 125,000 borrowers.

The package includes $5.2 billion in debt relief for 53,000 borrowers under the Public Service Loan Forgiveness program, a debt relief program for public sector workers who have worked for the government, whether on the federal, state, or local level, or a non-profit organization for 10 years or more.

Nearly $2.8 billion is allocated for about 51,000 borrowers on income-driven repayment plans—specifically those who been pa♏ying off student loans for more than 20 𝓀years and haven't received any relief in the past.

Today's relief announcement also earmarks $1.2 billion for 22,000 borrowers with disabilities that have been approved for discharge by the Social Security Administration.

This could be a welcome relief for some borrowers after 澳洲幸运5官方开奖结果体彩网:repayments of student loans began at the start of this month, especially 澳洲幸运5官方开奖结果体彩网:as the cost of living has gone up.

The latest round of student debt relief adds up to a total of $127 billion approved by the Biden administration, collectively affecting 3.6 million borrowers. Even though the Supreme Court 澳洲幸运5官方开奖♕结果体彩网:struck down student loan forgiveness back in June, the Biden administration has moved forward with alternative programs, like the 澳洲幸运5官方开奖结果体彩网:Save for a Valuable Educ🍎ation (SAV🅰E) plan, that tailor student loan payments to a borrower's income and provide relief to some borrowers.