The Biden debt forgiveness program will cancel $10,000 in student loan debt for individuals making less than $125,000 a year or households making less than $250,000. Pell grant recipients, who typically demonstrate more financial need, will be eligible for an additional $10,000.
The Biden administration on Wednesday announced a student loan debt relief plan that included several things such as up to $20,000 in debt relief for millions of American borrowers. Have more questions about student loans and Biden's decision? Insider Senior Economic Policy Reporter Ayelet Sheffey joins LX News to discuss.
The Biden administration used an act passed after the Sept. 11, 2001, terrorist attacks as legal justification for the program. The law gives the administration “sweeping authority” to reduce or eliminate student debt during times of national emergency, the Justice Department said in an August legal opinion. The administration cited the COVID-19 pandemic as its emergency.
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:
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.
What to know about the application for Biden's student loan reliefOn Tuesday, the Biden administration shared new details of its debt relief application, and what borrowers will need in order to fill it out. They should need to take several money management classes before any of their debt is relieved. Nice. Glad this is finally happening.
Source: NPR - 🏆 96. / 63 Read more »
Biden administration previews student loan forgiveness website | CNN PoliticsThe Biden administration on Tuesday offered a preview of the student loan forgiveness website, which it described as 'short and simple' ahead of its launch expected later this month. bigherm2003 Keep wishing. He never had the ability to do it. Even Nancy Booed him from the start. He's still just President or whatever, he's not King yet!🙏🇺🇲👍 Not short. Not simple. Just more gimmicks.
Source: CNN - 🏆 4. / 95 Read more »
Here's Why More Than 7 Million Student Loan Borrowers Could Miss Out on Federal Forgiveness ProgramConsumer advocates say that requiring student loan borrowers to apply for forgiveness will lead to many people missing out on the relief.
Source: NBCDFW - 🏆 288. / 63 Read more »
Addison-Based Advocacy Group Is Behind a Federal Lawsuit Challenging Student Loan ForgivenessA lawsuit filed in Texas seeks to halt President Joe Biden's Student Debt Relief Plan because there was no public input before its approval. Hope they’re prepared to lose. it's always Texas we're the punchline to a joke no one was even telling
Source: dallas_observer - 🏆 453. / 53 Read more »