Biden's Student Loan Forgiveness Plan

According to Biden's Student Loan Forgiveness Plan, up to $20,000 in debt will be forgiven.

Anyone who took the federal student loans and still makes less than $125,000 individually is eligible for this Biden's plan.

Anyone who had received Pell Grants may be eligible for a forgive of up to $20,000.

Anyone who had not received Pell Grants can be forgiven up to $10,000.

According to some estimates, it is believed that this plan will cost around $300 billion over 10 years.

“An entire generation is now saddled with unsustainable debt,” Mr. Biden

“I understand that not everything I’m announcing today is going to make everybody happy. But I believe my plan is responsible and fair.” Mr. Biden

Mr. Biden had already said many times about an announcement but this time he finally made the decision.