Our voices were heard! President Biden has announced a broad debt cancellation that will have a significant impact for millions of borrowers. The plan will cancel $10,000 of federal student loan debt for borrowers with income less than $125,000, and $20,000 for borrowers who had Pell Grants. In addition, income-driven repayment plans will limit payments to 5 percent of income and the student loan payment pause is extended until December 31, 2022.

• • You can read even more about the impact of President Biden’s announcement on our blog. 
  • And if you need additional support with student debt issues, check out our resources page for help.