Just Announced: Federal Student Loan Forgiveness from the Biden-Harrison Administration
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Just Announced: Federal Student Loan Forgiveness from the Biden-Harrison Administration
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Yesterday, the Biden-Harris administration announced sweeping loan forgiveness for federal student loan borrowers. This unprecedented program will allow up to $20,000 of loan forgiveness based on income levels and financial need. Specifically, households with an individual income of less than $125,000 or a household income of $250,000 will get $10,000 in debt cancellation. Borrowers who received Pell Grants while in college will get $20,000 in loan forgiveness.
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