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  • The Biden administration announced it would forgive $5.8 billion in student debt for 77,700 borrowers through the Public Service Loan Forgiveness program.
  • It also said President Joe Biden would email another 380,000 public service workers, notifying them that they’re on track to have their debt canceled within two years.
> - The Biden administration announced it would forgive $5.8 billion in student debt for 77,700 borrowers through the Public Service Loan Forgiveness program. - It also said President Joe Biden would email another 380,000 public service workers, notifying them that they’re on track to have their debt canceled within two years. [Archive](https://archive.today/2bl4T)

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When a debt is forgiven, the money that was received becomes income in the eyes of the IRS. The IRS will be coming after their cut and they don't play nice...