Biden to cancel up to $10K in federal student loan debt for certain borrowers and up to $20K for Pell Grant recipients

Posted on AllSides August 24th, 2022
From The Left
Chip Somodevilla / Getty Images

The Biden administration announced Wednesday that it will cancel up to $10,000 in student debt for borrowers who earn $125,000 a year or less and up to $20,000 for recipients of Pell Grants.

Couples who earn $250,000 a year or less and file taxes jointly will also qualify for cancellation of up to $10,000 for each partner.

The administration is also extending the payment pause on federal student loans for a final time through Dec. 31.

In a tweet, President Joe Biden said that he would provide further details on the announcement Wednesday afternoon.

Read full story

AllSides Picks

More News about Joe Biden from the Left, Center and Right

From the Left

From the Center

From the Right