Lucky few Americans whose student debt was forgiven: ‘I hit the lottery’

Only a small fraction of about 43 million have had their debt cancelled, the relief for those who have is transformative

Of the roughly 43 million Americans carrying student loan debt – totaling nearly $1.7tn – only a small fraction have seen their balances erased. For those who have, the relief has been transformative, with several telling the Guardian how the forgiveness has reshaped financial futures and opened doors to new careers, stability and long-delayed life plans.

“My loan was forgiven at the end of 2025 through the Public Service Loan Forgiveness Program,” said Laura Kluss, a 41-year-old clinical social worker based in Sacramento, California. “It was in the six figures at the time of forgiveness. Interest rates were making it extremely difficult to pay it down.