Biden Announces Long-Awaited Student Debt Forgiveness Plan, Will Forgive $10,000 For Millions
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, Biden announced. For recipients of Pell Grants, the federal government would cancel up to an additional $10,000 in federal loan debt.