Biden is canceling up to $10K in student loans, $20K for Pell Grant recipients:
More than two years ago, then-presidential candidate Joe Biden pledged to cancel at least $10,000 in federal student loans. The pledge has followed his administration ever since. On Wednesday, President Biden announced a sweeping effort to forgive up to $20,000 of federal student loan debt for Pell Grant recipients, and up to $10,000 for other qualifying borrowers. Biden also extended the federal student loan payment pause through Dec. 31.
About 43 million borrowers will benefit, and 20 million will have their debt completely canceled, according to a senior administration official. The White House said more than 60% of current federal student loan borrowers also received Pell Grants. "This is a slap in the face to those who never went to college, as well as borrowers who upheld their responsibility to taxpayers and paid back their loans," said Rep. Virginia Foxx of North Carolina, the top Republican on the House Education Committee, in a Tuesday night statement.
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Biden is canceling up to $10K in student loans, $20K for Pell Grant recipientsBREAKING: President Biden announced a sweeping effort to forgive up to $20,000 of federal student loan debt for Pell Grant recipients, and up to $10,000 for others. Biden also extended the federal student loan payment pause through Dec. 31.
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Biden is canceling up to $10K in student loans, $20K for Pell Grant recipientsOn Wednesday, President Biden announced an effort to forgive some federal student loan debt for qualifying borrowers. Biden also extended the federal student loan payment pause through Dec. 31.
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Biden cancels up to $20K in student loans for Pell Grant recipients, $10K for millions of othersThe White House also extended the moratorium on monthly student loan payments and interest through Dec. 31.
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