President Biden's State of the Union address emphasized the government's efforts to ease student debt burdens through Income-driven Repayment Plans and Public Service Loan Forgiveness. The Income-driven Repayment Plans have granted forgiveness to 930,000 borrowers, while Public Service Loan Forgiveness, now expanded, has benefited 790,000 public servants, resulting in a total of $138 billion in debt relief for nearly 4 million borrowers.
