President Joe Biden is planning to make a big announcement today. The announcement is that he will forgive up to $10,000 dollars in student debt for millions of people, and he will also forgive up to $20,000 dollars of debt for low and middle-income borrowers that formerly got a Pell grant. The loan forgiveness will only be for borrowers that earn less than $125,000 per year, or for families earning less than $250,000 a year. Biden still hasn’t finalized parts of the relief program, according to people familiar with the White House’s discussions.
Source: https://www.politico.com/news/2022/08/23/biden-student-loan-forgiveness-repayment-pause-00053299
