The Biden-Harris Student Debt Relief Plan is looking to forgive up to $20,000 in student loans for many borrowers.
there might be some relief for you too"For people with student-loan issues, this is really important to them," said Octavio Cardona-Loya, II, a consumer attorney."It's a cloud hanging over their head."
Many parents are wondering if the plan will apply to the loans they signed for their children. Cardona said that, if your name is on the loan, you may qualify for forgiveness, but that doesn't necessarily mean it's the end of the loan. President Joe Biden announced in a tweet Wednesday that his administration and the Department of Education would be providing up to $20,000 in student loan forgiveness, as well as extending the payment moratorium through the end of the year.
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Here's What Illinois Borrowers Need to Know as Biden Plans to Forgive Thousands in Student LoansMillions, including many in Illinois, who owe money in federal student loans will have those debts forgiven under a plan announced by President Joe Biden on Wednesday. Here’s what to know about the plan and what it could mean for state residents.
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