BREAKING NOW: Biden unveils plan to slash student debt for some Americans…
“In keeping with my campaign promise, my Administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023,” Biden posted on social media.
From Fox News:
Biden said his administration will forgive student loan debt up to $20,000 for borrowers who attended college on Pell Grants; and $10,000 for borrowers who did not receive Pell Grants. Biden said the forgiveness “only applies to those earning less than $125,000.”
Biden also said that borrowers with undergraduate student loans are able to “cap repayment at 5% of your monthly income.”