FAQS: Biden’s Student Debt Cancellation Plan – Forgive My Student Debt

On August 24, 2022, President Biden announced that the federal government would cancel $10,000 in federal student loan debt for borrowers with individual incomes less than $125,000 ($250,000 for married couples or heads of household), with an additional $10,000 ($20,000 total) in cancellation if those borrowers received a Pell Grant at any time to help fund their education.

FAQS: Biden’s Student Debt Cancellation Plan – Forgive My Student Debt