Whitehouse Applauds Biden-Harris Legacy of $217 Million in Student Loan Forgiveness for Rhode Islanders Working in Public Service Fields

Washington, DC - U.S. Senator Sheldon Whitehouse (D-RI) today applauded actions taken by the Biden-Harris Administration to bring higher education within reach for more Rhode Islanders, including restoring the promise of Public Service Loan Forgiveness (PSLF). Since 2021, more than 3,100 Rhode Islanders have benefited from actions taken by the Biden-Harris administration's efforts to fix the PSLF Program, eliminating $217 million in student loan debt.

"Having that long-lingering student loan balance reduced to zero is lifechanging for the Rhode Islanders who my office has helped through the Public Service Loan Forgiveness Program. I applaud the Biden-Harris administration's legacy of delivering on the promise of this program. There is no doubt that the Administration's efforts delivered much-needed student loan relief to families across our state, allowing them to invest in homes and in their own children's education," said Whitehouse.

The PSLF Program is designed to support teachers, service members, social workers, and others engaged in public service. For years, the program was bogged down in administrative red tape, resulting in few American receiving the loan forgiveness they were promised when they entered public service fields. After making changes to the program, the Biden-Harris administration delivered $78.5 billion in loan forgiveness through PSLF, which has benefitted more than 1 million borrowers nationwide - a stark contrast from the 7,000 applications approved under the first Trump administration.

Whitehouse has long championed legislation to help Americans pay off their student loans. Since hearing from early applicants caught in the PSLF Program bureaucracy several years ago, Whitehouse has doggedly pursued fixes to the program and worked to help constituents navigate the application process.

Whitehouse introduced the Simplifying and Strengthening PSLF Act to streamline and improve the program. In addition to making the Biden administration's waiver permanent, the Simplifying and Strengthening PSLF Act would reduce the number of payments needed to qualify for PSLF loan forgiveness from 120 payments over 10 years to 60 payments over 5 years while working for an eligible employer. Whitehouse has also introduced the Zero-Percent Student Loan Refinancing Act, which would allow Americans to refinance their federal student loans at a zero percent interest rate.