Biden Administration to Cancel Up to $20,000 In Student Loan Debt

The long-awaited and controversial decision is pleasing few – at least at first blush.

The Biden administration will cancel up to $20,000 in student loan debt

White House officials announced Tuesday,

cementing a long-awaited and controversial decision that had the president’s inner circle refining the plan until the hours before the announcement.

Borrowers making $125,000, or $250,000 for married couples

are eligible to have $10,000 in student loans wiped clean while borrowers who received federal Pell Grants

tuition-assistance available to students from low- and middle-income families

are eligible for $20,000 in student loan debt cancellation

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