Only a small fraction of the roughly 43 million Americans carrying student loan debt—totalling nearly $1.7tn—have had their balances erased. For those who have, the relief has been transformative, with several telling the Guardian how forgiveness has reshaped their financial futures and opened doors to new careers, stability and long-delayed life plans.
Laura Kluss, a 41-year-old clinical social worker in Sacramento, California, had her six-figure loan forgiven at the end of 2025 through the Public Service Loan Forgiveness Program. She said: 'At a $0 balance now, I can make plans for my future and not have the loan on my shoulders.' Kluss spent 11 years working for the government with inmate populations and now with veterans, and said forgiveness gives her flexibility to move into the private sector.
Earlier this week, the US Department of Education began notifying approximately 164,000 additional borrowers that they may be eligible for automatic loan forgiveness. Those under consideration include individuals who attended one of more than 150 colleges accused of misconduct—such as misrepresenting graduation rates, employment outcomes or the true cost of degrees.
For Kimberly, a Pennsylvania resident, forgiveness felt like winning the lottery. She said she does not use her degree and that no one had heard of the online school she attended. She will now pay off other debts, including her mortgage and vehicle, and advised: 'College is a scam unless you are going to be a doctor or a lawyer. Learn a trade instead.'
Ian Hobbs, a 43-year-old part-time adjunct professor in Arizona, said forgiveness provided emotional relief but that the long-term damage remains. 'I feel like I lost 10 years of my life, even with this loan forgiveness. Was this indentured slavery? It feels like it.' He noted that his debt caused over a decade of rejections for mortgage loans and job opportunities.
For others, the prospect of forgiveness offers hope. Jennifer Alfonso, a Florida resident with disabilities, has been waiting since February for a decision on a Total and Permanent Disability Discharge. She warned prospective students to ensure schools are accredited, as she discovered her former school was not and had to start over. Brad Hufeld, a retiree in Ohio, has had his loan for 23 years after his school closed, and said forgiveness would affect his life considerably.
