Biden announced in a Wednesday tweet that borrowers who earn less than $125,000 a year, or families earning less than $250,000, would be eligible for the $10,000 loan forgiveness.
For recipients of Pell Grants, which are reserved for undergraduates with the most significant financial need, the federal government would cancel up to an additional $10,000 in federal loan debt.
Biden is also extending a pause on federal student loan payments for what he called the “final time” through the end of 2022.
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Biden expected to make announcement on student loan relief on WednesdayIt's not yet clear what he'll announce. The pause on student loan payments is currently scheduled to end on Aug. 31.
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Biden set to announce plan to cancel $10,000 in student loan debt WednesdayBiden has faced rising pressure from progressive Democrats to grant loan forgiveness. Critics say it could accelerate inflation.
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Biden is expected to make announcement on student loan relief on WednesdayIt's not yet clear what he'll announce. The pause on student loan payments is currently scheduled to end on Aug. 31.
Lire la suite »
Joe Biden expected to announce $10,000 student loan forgiveness program Wednesday: reportPresident Biden's expected announcement to forgive $10,000 in student loans will cost American taxpayers around $300 billion, according to some estimates.
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Biden is expected to make announcement on student loan relief on WednesdayIt's not yet clear what he'll announce. The pause on student loan payments is currently scheduled to end on Aug. 31.
Lire la suite »
Biden set to announce plan to cancel $10,000 in student loan debt WednesdayBiden has faced rising pressure from progressive Democrats to grant loan forgiveness. Critics say it could accelerate inflation.
Lire la suite »