Biden's Student Loan Forgiveness Plan Details

Biden's Student Loan Forgiveness Plan

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

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

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

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

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

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

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“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

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

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