"That's really important to do if you have a loan in default," he said. "That gives everyone an opportunity to start repayment coming out of the pause — a new beginning just like all other students have."US President Joe Biden announces new actions to protect borrowers after the Supreme Court struck down his student loan forgiveness plan in the Roosevelt Room at the White House on June 30, 2023 in Washington, DC.
"We've worked really hard to bring down the cost of college going forward. Pell Grants are up by the largest amount in a decade," he said, referring to the federal grants awarded to students who demonstrate exceptional financial need., rolling out later this year with major changes will "make the form more progressive and more students eligible for Pell Grants," he added.
Kvaal also said that the administration is "trying to clean up the student loan program and make it more affordable," especially for those in public service, who are low income, or disabled. The administration has also worked to fix the various loan forgiveness programs out there by"In total, we've identified 3.5 million people for loan forgiveness," Kvaal said.
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