Student loan forgiveness — what we know (and what we don’t)

Several questions remain now that President Biden said many Americans can have up to $10,000 in federal student loan debt forgiven, or $20,000 if a student also received a Pell grant. Here are some answers.

By

National News

August 24, 2022 - 2:04 PM

Photo by Pixabay.com

NEW YORK (AP) — President Joe Biden said Wednesday that many Americans can have up to $10,000 in federal student loan debt forgiven. That amount increases to $20,000 if they went to college on Pell grants. Here’s what we know so far and what it means for people with outstanding student loans:

WILL BIDEN FORGIVE STUDENT LOANS?

Biden said his administration plans to forgive up to $10,000 in federal student loan debt for anyone who makes less than $125,000 a year. People who went to college on Pell grants, which are reserved for undergraduates with the most significant financial need, can have up to $20,000 forgiven.

Related
September 21, 2022
August 29, 2022
August 25, 2022
October 19, 2017