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.
I'll have more details this afternoon.
ALT The Biden Administration's Student Loan Debt Plan:
Forgiving debt:
$20,000 if you went to college on Pell Grants
$10,000 if you didn't receive Pell Grants
Forgiveness only applies to those earling less than $125,000
Student loan pause extended one final time through Dec 31, 2022
Payment based on income:
If you have undergraduate loans, you can cap repayment at 5% of your monthly income.