Biden is Canceling Up to $20K in Student Loans

On Wednesday, President Biden announced a sweeping effort to forgive as much as $20,000 of federal student loan financial obligations for Pell Grant receivers, and approximately $10,000 for various other qualifying borrowers. Biden additionally extended the government student loan payment pause via Dec. 31.

“In keeping with my campaign promise, my Administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023,” Biden said in a tweet on Wednesday.

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