110,000 U.S. Borrowers , Receive Debt Relief Through , the Federal Loan Forgiveness Program.<br />NBC News reports changes to the Public Service <br />Loan Forgiveness Program have provided <br />about $6.8 billion in debt relief. .<br />Over 110,000 borrowers in the United States <br />have reportedly reaped the benefits.<br />According to the Department of Education, <br />the average amount of debt forgiven <br />per borrower is close to $60,000. .<br />In 2007, the Public Service Loan <br />Forgiveness program was signed <br />into law by President George W. Bush. .<br />The program allowed for nonprofit <br />and government employees to have their <br />loans forgiven after 10 years or 120 payments. .<br />However, according to NBC, the program <br />was plagued by problems resulting in many <br />borrowers being ruled not eligible for debt relief. .<br />NBC reports that hundreds of thousands more could see their student loans forgiven under the policy changes made by the Biden administration last year. .<br />NBC reports that hundreds of thousands more could see their student loans forgiven under the policy changes made by the Biden administration last year. .<br />Those changes include <br />a reassessment of borrowers' timelines <br />and of payments previously ruled ineligible. .<br />According to the Consumer Financial Protection Bureau, <br />as many as one-quarter of workers in the U.S. could be <br />eligible for debt relief under the temporary policy changes. .<br />According to the Consumer Financial Protection Bureau, <br />as many as one-quarter of workers in the U.S. could be <br />eligible for debt relief under the temporary policy changes. .<br />The Biden administration's temporary <br />changes to the program are scheduled <br />to expire on October 31, 2022
