What Illinois Borrowers Should Know as Biden Plans to Forgive Thousands in Student Loans
What Do I Have to Do For My Loan to Be Forgiven?
About 8 million people will be eligible to receive relief automatically because the U.S. Department of Education already has their current income information, the administration said. If the agency doesn't have your current income information or if you don't know if it does, you will need to fill out an application. That application is not yet available, but will be in the coming weeks, the administration said in its announcement.What is a Pell Grant and How Do I Know If I Got One?
The Pell Grant is a monetary award from the federal government for students who have demonstrated a heavy financial need. Many FAFSA applicants receive this award. If you review your financial aid package letter from your school, you should see the Pell Grant listed there if you received one.
The average student loan debt in Illinois is $37,757, according to the site, with more than 1.6 million student borrowers living in the state. Of those, more than half are under the age of 35 and more than 20% owe more than $20,000.There are a number of student loan repayment and forgiveness programs in the state. For a full list, click
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Biden is canceling up to $10K in student loans, $20K for Pell Grant recipientsPresident Biden announced a sweeping effort to forgive up to $20,000 of federal student loan debt for Pell Grant recipients, and up to $10,000 for other borrowers making under $125,000 a year.
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Biden is canceling up to $10K in student loans, $20K for Pell Grant recipients | WNYC | New York Public Radio, Podcasts, Live Streaming Radio, NewsPresident Biden announced a sweeping effort to forgive up to $20,000 of federal student loan debt for Pell Grant recipients, and up to $10,000 for other qualifying borrowers. Biden also extended the federal student loan payment pause through Dec. 31.
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Biden is canceling up to $10K in student loans, $20K for Pell Grant recipientsBREAKING: President Biden announced a sweeping effort to forgive up to $20,000 of federal student loan debt for Pell Grant recipients, and up to $10,000 for others. Biden also extended the federal student loan payment pause through Dec. 31.
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