ELMIRA, NY (WETM)- As of today, more than 110,00 people have had about $6.8 billion dollars in student loans forgiven, thanks to a revamped federal program.

Last October, the Biden administration made changes to the Public Service Loan Forgiveness Program.

Since then, more than 113,000 borrowers have seen their balances discharged so far.

The changes made to the program are making payments eligible that wouldn’t have qualified under previous rules.

These changes were part of a new federal policy put in place for the COVID-19 pandemic, they are set to expire after October 31st of this year.

Here are the changes according to the Department of Education:

  • Receive credit for periods of repayment on Direct, FFEL, or Perkins Loans
  • Periods of repayment under any plan count
  • Periods of repayment on loans before consolidation count, even if on the wrong payment plan
  • Periods of repayment where payments were late or for less than the amount due also count
  • Periods of repayment on loans before consolidation count, even if paid late or for less than the amount due
  • Can get forgiveness even if not employed or not employed by a qualifying employer at the time of application and forgiveness
  • If you got Teacher Loan Forgiveness, the period of service that led to your eligibility can count toward PSLF if you certify PSLF employment for that period

During his run for office, President Biden expressed support for federal student loan forgiveness.

We are over a year into his presidency and Biden has yet to do so, however, the administration has canceled more than $17 billion in debt for 725,000 borrowers.

New York Attorney General Letitia James is however calling on President Biden to fully cancel federal student debt owed by every federal loan borrower in the country.

“My question to Letitia James or anyone else that wants it forgiven is ‘how does it fix the problem with higher education and the cost of higher education right? You’re still having people borrow money today, and 55, 60, 70,000 $80,000 a year. It doesn’t fix what people are borrowing today,” says author of Slay the Student Loan Dragon, Matthew Burr.

He says it doesn’t fix the problem, it fixes past problem, which isn’t a solution.

Burr says anyone borrowing money in any sense should be responsible and pay it back.

He also says that now is the time to starting paying down their student loans because interest is not accruing.

According to AG James, the president has the power to immediately exercise his authority under the Higher Education Act, to cancel all federal student loans.

Biden does appear to be moving forward with canceling at least a portion of the student debt held by Americans, but it is unclear exactly how much and when.