Debt | Good News for Humankind

More than $6 billion in medical debt erased in North Carolina in 2025

By Peter Schulte / January 21, 2026 / Good News For Humankind

In a historic move for economic justice, North Carolina has erased over 6.5 billion dollars in medical debt over the course of 2025, benefiting nearly 2.5 million residents. Governor Josh Stein announced the relief, which was achieved through a partnership with 60 hospitals that agreed to forgive old debt in exchange for higher Medicaid reimbursement rates. This massive initiative removes financial barriers to care, helps families repair their credit scores, and serves as a powerful national model for leveraging state policy to solve the medical debt crisis.

Los Angeles County erases $363 million in medical debt

By Peter Schulte / December 31, 2025 / Good News For Humankind

This initiative, funded by a $5 million investment from County general funds, provides direct relief to more than 153,000 low-income residents. Partnering with the non-profit Undue Medical Debt, the county purchased unpayable debt portfolios to wipe the slate clean for families. This decisive action removes financial barriers to care, improves credit scores, and advances health equity across the region.

Arizona cancels more than $200 million in medical debt for almost half-a-million residents

By Peter Schulte / December 29, 2025 / Good News For Humankind

Arizona has achieved a major victory for financial security by cancelling medical debt for nearly half a million residents. Governor Katie Hobbs announced the state has erased more than $200 million in this latest round, bringing the total debt forgiven to $642 million. Utilizing federal funds and partnering with the non-profit Undue Medical Debt, the program targets low-income households without requiring any application. This decisive action restores credit scores, relieves mental stress, and boosts the local economy by freeing up household income for essentials.

Australia cuts student debt by 20%, easing pressure on millions

By Peter Schulte / July 30, 2025 / Good News For Humankind

Australia will cut student loan balances by 20%, delivering over A$16 billion in relief to three million people. A graduate with an average loan of A$27,600 will see about A$5,520 erased, with changes backdated to June 1, 2025, before a 3.2% inflation adjustment. The law also lifts the repayment threshold to A$67,000 in annual income, easing the burden on lower earners and delaying repayments for many.

Australia to slash $10 billion off student debt amid cost of living pressures

By Peter Schulte / November 2, 2024 / Good news links

Australian Prime Minister Anthony Albanese has said that his government plans to cut student loans for around three million Australians by 20%, wiping off around $10 billion USD in debts. The move builds on May’s budget, which attacked cost of living pressures in Australia and gave debt relief for students, as well as more investment to make medicines cheaper, and a boost to a rent assistance program. The changes would mean the average graduate with a loan of A$27,600 would have A$5,520 wiped, the government said, adding that they would take effect from June 1, 2025.

Biden forgives more student loans: 60,000 borrowers will get notices canceling $4.5 billion in debt

By Peter Schulte / October 17, 2024 / Good news links

The Biden administration has forgiven another $4.5 billion in student debt for more than 60,000 borrowers. The latest round of relief is a result of the U.S. Department of Education’s fixes to the popular, but once-troubled, Public Service Loan Forgiveness program. President Biden, who has forgiven more education debt than any other president in U.S history, said that the number of borrowers to benefit from the program under his administration now exceeded 1 million.

U.S. President Biden announces additional $1.2 billion in student debt relief for 35,000 public-sector workers

By Peter Schulte / July 18, 2024 / Good news links

President Joe Biden announced another round of student loan debt forgiveness, totaling $1.2 billion for 35,000 public-sector workers including teachers, nurses, and firefighters. The administration has now canceled more federal student loan debt than any prior administration – now totaling more than $168 billion for nearly 4.8 million Americans.

United States to ban medical debt from credit reports

By Peter Schulte / June 11, 2024 / Good news links

In a sweeping change that could improve millions of Americans’ ability to own a home or buy a car, the Biden administration proposed a rule to ban medical debt from credit reports. The rule, announced by Vice President Kamala Harris and Consumer Financial Protection Bureau Director Rohit Chopra, comes as President Joe Biden beefs up his efforts to persuade Americans his administration is lowering costs, a chief concern for voters in the upcoming election.

Biden administration cancels $7.7 billion in student debt for 160,500 Americans

By Peter Schulte / May 23, 2024 / Good news links

The White House has approved $7.7 billion of student debt cancellation for 160,500 borrowers, part of its ongoing effort to provide relief after the Supreme Court last year blocked President Joe Biden’s plan for broad-based college loan forgiveness. With the latest round of forgiveness, the administration has erased a total of $167 billion in student loans for 4.75 million people, or about 1 in 10 student loan borrowers.

Biden administration to forgive $1.2 billion in student debt for over 150,000 borrowers

By Peter Schulte / February 21, 2024 / Good news links

The Biden administration will forgive another $1.2 billion in student debt for nearly 153,000 borrowers enrolled its new repayment program, called the Saving on a Valuable Education, or SAVE, plan. The relief will go to borrowers who have been in repayment for a decade or longer, and originally took out $12,000 or less. Biden has now canceled debt for almost 3.9 million borrowers, totaling $138 billion in relief.