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Who Is Left Out Of Pres. Biden's Student Loan Forgiveness Plan?'

Who Is Left Out Of Pres. Biden's Student Loan Forgiveness Plan?'

Newsy
Wednesday, October 26, 2022 04:11:09 AM UTC

The president's loan forgiveness plan has hit speed bumps since its inception, with some people now finding out they're not included.

In August, President Joe Biden announced his plan to cancel debt for federal student loan borrowers. The plan includes up to $10,000 of forgiveness for people making under $125,000 a year and up to $20,000 for people with Pell Grants who meet those same income requirements.

But in the weeks following the White House rollout of the plan, there have been developments casting doubt on the idea of loan forgiveness, and that could take it off the table entirely for some borrowers.

Last week, a U.S. appeals court pressed pause on the plan, holding up any debt relief until judges can weigh whether it's constitutional.

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