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The Biden administration has officially launched the application process to receive federal student loan forgiveness with a beta version of the website that went live over the weekend. About eight...
Who qualifies for $20,000 in student loan debt forgiveness? Borrowers who received Pell Grants and make less than $125,000 as individuals or less than $250,000 as married couples are eligible to ...
In August, the Biden administration announced $10,000 in student loan forgiveness along with an additional $10,000 in forgiveness for Pell Grant recipients. Single borrowers who make less than ...
The earliest time in which borrowers could receive forgiveness under the program was after October 1, 2017. The Department of Education reported that 2,215 borrowers had the remainder of their respective student loans forgiven under the program as of April 30, 2020 for a denial rate of 98.5%. [3]
The application for federal student loan forgiveness is on hold as the Education Department appeals a federal district court judge’s ruling that the program is a violation of legislative power.
In March 2020, the CARES Act passed by Congress included a pause on federal student loans repayments and interest until September 30, 2020. [8] On August 8, 2020, the Trump administration issued a memorandum instructing the Secretary of Education to pause on student loan payments and interest through December 31, 2020 using the authority ...
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