Biden expected to announce student-loan forgiveness plan today

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Biden expected to announce student-loan forgiveness plan today
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Borrowers who earn less than $125,000 a year would be eligible for the loan forgiveness, according to three people familiar with the decision.

WASHINGTON — Millions of Americans were waiting to learn the fate of their federal student debt on Wednesday as President Joe Biden prepared to deliver on his campaign promise to provide up to $10,000 in debt cancellation.

Details of the plan have been kept closely guarded, but borrowers who earn less than $125,000 a year would be eligible for the loan forgiveness, according to three people familiar with the decision. Biden is also set to extend a pause on federal student loan payments through January. Note to readers: if you purchase something through one of our affiliate links we may earn a commission.

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Biden expected today to announce plan for student-loan forgivenessBiden expected today to announce plan for student-loan forgivenessDetails of the plan have been kept closely guarded, but borrowers who earn less than $125,000 a year would be eligible for the loan forgiveness, according to three people familiar with the decision.
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White House Considering $10,000 in Student Loan Forgiveness for Borrowers Who Make Under $125,000: ReportWhite House Considering $10,000 in Student Loan Forgiveness for Borrowers Who Make Under $125,000: ReportPresident Joe Biden has promised to make a decision on student loan forgiveness by the end of August, when monthly loan payments are set to resume.
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