California will receive the most relief in the nation from President Biden’s student loan forgiveness plan. According to a White House analysis released on Tuesday, 3.5 million California residents are eligible to benefit from Biden's trillion-dollar loan relief plan.
, which has 3.3 million residents eligible to benefit from student loan forgiveness, followed by 2.4 million residents in Florida and 2.3 million in New York. The states with the fewest eligible borrowers include North Dakota, with 82,000; Vermont, with 72,200; and Wyoming, with 49,600.
Nearly 90% of relief dollars will go to those earning less than $75,000 per year – and no relief will go to any individual or household in the top 5% of incomes in the United States.In addition to the 3.5 million California borrowers eligible for student debt relief are roughly 2.3 million Pell Grant borrowers eligible for relief.You're eligible for student loan debt relief if your annual federal income was below $125,000 or $250,000 in 2021 or 2020.
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