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Those who did not receive Pell Grants but make less than $125,000 as individuals or less than $250,000 as a married couple are eligible for $10,000 in student loan debt forgiveness.
The Supreme Court this summer struck down Biden's more sweeping student loan debt relief plan, which would have allowed around 43 million eligible borrowers to cancel up to $20,000 each in debt.
Borrowers who received Pell Grants and make less than $125,000 as individuals or less than $250,000 as married couples are eligible to receive $20,000 in student loan debt forgiveness.
President Biden announced another sweeping federal student loan forgiveness policy, wiping out $5.8 billion in debt for 77,700 borrowers. However, only certain borrowers will qualify ...
The Biden administration aims to tackle "runaway interest" as part of a new student debt relief measure. If successful, it could bring relief to 23 million borrowers.
Student loan debt rose from $480.1 billion (3.5% GDP) in Q1 2006 to $1,683 billion (7.8% GDP) in Q1 2020. Student loans play a significant role in U.S. higher education. [51] Nearly 20 million Americans attend college each year, of whom close to 12 million – or 60% – borrow annually to help cover costs. [52]
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