78,000 more public workers are getting student loans canceled through Biden administration changes

Another 78,000 Americans are getting their federal student loans canceled through a program that helps teachers, nurses and other public servants. The Education Department is canceling the borrowers’ loans because they reached 10 years of payments while working in public service, making them eligible for relief under the Public Service Loan Forgiveness program. Congress created the program in 2007, but confusing rules and missteps by student loan servicers left many borrowers unable to get the promised cancellation. President Joe Biden's administration loosened some of the rules and retroactively gave many borrowers credit toward their 10 years of payments. The Democratic administration announced the federal student loan cancellation Thursday.