Biden Plan Will Forgive Thousands in Student Loans for Many Borrowers. Here's What to Know

  • 📰 nbcbayarea
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

Education Education Headlines News

Education Education Latest News,Education Education Headlines

Millions who owe money in federal student loans will have those debts forgiven under a plan announced by President Biden. Here's what to know about the plan.

What Do I Have to Do For My Loan to Be Forgiven?

About 8 million people will be eligible to receive relief automatically because the U.S. Department of Education already has their current income information, the administration said. If the agency doesn't have your current income information or if you don't know if it does, you will need to fill out an application. That application is not yet available, but will be in the coming weeks, the administration said in its announcement.What is a Pell Grant and How Do I Know If I Got One?

The Pell Grant is a monetary award from the federal government for students who have demonstrated a heavy financial need. Many FAFSA applicants receive this award. If you review your financial aid package letter from your school, you should see the Pell Grant listed there if you received one.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

funny the US Treasury cannot print anymore new money as of 7/4/2022!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 596. in EDUCATİON

Education Education Latest News, Education Education Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here's What Illinois Borrowers Need to Know as Biden Plans to Forgive Thousands in Student LoansMillions, including many in Illinois, who owe money in federal student loans will have those debts forgiven under a plan announced by President Joe Biden on Wednesday. Here’s what to know about the plan and what it could mean for state residents.
Source: nbcchicago - 🏆 545. / 51 Read more »

Biden announces student loan debt relief planU.S. President Joe Biden said on Wednesday his administration would forgive student loan debt for many borrowers and would extend a pause on student loan repayments until Dec. 31 of this year.
Source: Reuters - 🏆 2. / 97 Read more »

Biden forgiving up to $20K in student loan debtPresident Joe Biden announced Wednesday that his administration will forgive up to $20,000 worth of student loan debt for borrowers who received Pell Grants. “Idiocracy” is looking more and more like a documentary by the day. This does nothing until we have student loans reform. These loans are predatory. Why would we offer 18 year olds who haven’t worked loans or $100k+ and make it impossible to get rid of via bankruptcy etc. Good start but big changes needed
Source: kgun9 - 🏆 584. / 51 Read more »

Biden is canceling up to $10K in student loans, $20K for Pell Grant recipientsBREAKING: President Biden announced a sweeping effort to forgive up to $20,000 of federal student loan debt for Pell Grant recipients, and up to $10,000 for others. Biden also extended the federal student loan payment pause through Dec. 31.
Source: KPBSnews - 🏆 240. / 63 Read more »

Biden Is Canceling Up To $10K In Student Loans, $20K For Pell Grant RecipientsPresident Biden announced a sweeping effort to forgive up to $20,000 of federal student loan debt for Pell Grant recipients, and up to $10,000 for other qualifying borrowers.
Source: LAist - 🏆 606. / 51 Read more »