Federal Student Aid and the Biden-Harris Administration have announced loan forgiveness plans of up to $20,000 for prior Pell-Grant recipients and up to $10,000 for all other loan borrowers. To be eligible borrower’s annual income must be below $125,000 (individuals) and $250,000 (married couples/head of households). If the U.S. Department of Education doesn’t have your income data – or if you don’t know if the U.S. Department of Education has your income data, the Administration will launch a simple application in the coming weeks. Borrowers can view their loan balances and check their Pell Grant status by logging into their Federal Student Aid account online at studentaid.gov.
For more information, you may visit the Federal Student Aid Debt Relief announcement here. You may also subscribe to receive notice when the application is available.
Additional information regarding debt relief has been announced. Please review it here.