Biden Government Cancel Student Loans upto $10000 Due to Epidemic

Up to $10,000 in student loans and $20,000 for Pell Grant holders will be forgiven by Biden.

President Biden unveiled a broad initiative on Wednesday to cancel up to $20,000 in federal student loan debt for recipients of Pell Grants and up to $10,0

Additionally, Biden prolonged the federal student loan payment suspension until December 31.

U.S. Secretary of Education Miguel Cardona said in a statement.

due to the epidemic, and to rebuild faith in a system that ought to be generating opportunity rather than a debt trap

Individual borrowers must make less than $125,000 annually, or less than $250,000 annually for couples, to be eligible for the $10,000 forgiveness

Joe Biden, who was running for president at the time, promised to forgive federal student loans totaling at least $10,000 more than two years ago.