“President Biden”, CC/BY 3.0, White House
Biden administration announces plan to forgive student debt
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On Wednesday, Aug. 24, the Biden administration announced that up to $10,000 would be removed from individuals’ student loan debts if they earn less than $125,000 a year. Anyone who received a Pell Grant – money that the U.S. government provides for low-income college students – and meet the salary requirement, will be relieved of up to $20,000. People whose income data is accessible to the U.S. Department of Education may be eligible to receive relief automatically. Others can fill out an application for a loan relief from the U.S. Department of Education starting in early October. Relief is to be expected four to six weeks later.
