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Biden Announces Student Loan Forgiveness

President Biden this week announced plans to provide what he called “targeted debt relief” to student loan borrowers: “up to $20,000 in debt cancellation to Pell Grant recipients with loans held by the Department of Education, and up to $10,000 in debt cancellation to non-Pell Grant recipients.”

He limited the eligibility for the relief to borrowers whose “individual income is less than $125,000 ($250,000 for married couples).”

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