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$9 billion in additional student loan forgiveness: What it means for Arizonans

As borrowers prepare to resume student loan payments in October, the Biden administration announced the president has approved an additional $9 billion in student loan forgiveness.

The announcement comes as repayments resume after a three-year pause during the coronavirus pandemic.

Biden’s latest action impacts borrowers in three categories:

  • People who’ve made payments for 20 years or more on income-driven repayment plans.
  • Public servants who’ve made on-time payments for a period of 10 years.
  • Borrowers with total or permanent disabilities who’ve been approved for forgiveness thanks to a data match with the Social Security Administration.

Combined with previous efforts, the White House reports that more than 33,000 Arizonans to date are eligible for student loan forgiveness, for a total of nearly $2 billion.

Kirsten Dorman is a field correspondent at KJZZ. Born and raised in New Jersey, Dorman fell in love with audio storytelling as a freshman at the Walter Cronkite School of Journalism and Mass Communication in 2019.