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- Student loans are cancelled for the following groups12345:
- Borrowers enrolled in the SAVE plan, who have been in repayment for at least 10 years and took out $12,000 or less in loans for college.
- Public service employees such as teachers, nurses, social workers, and firefighters.
- Pell Grant recipients with loans held by the Department of Education.
- Non-Pell Grant recipients with individual income less than $125,000 ($250,000 for married couples).
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Thanks to the Biden-Harris Administration’s SAVE plan, starting today, the Administration will be cancelling debt for borrowers who are enrolled in the SAVE plan, have been in repayment for at least 10 years and took out $12,000 or less in loans for college.www.whitehouse.gov/briefing-room/statements-rele…The people who qualify for the latest round of student loan forgiveness are public service employees, such as teachers, nurses, social workers and firefighters, the White House said in a statement. On a per-person basis, the forgiveness amounts to about $77,000 per person.www.cbsnews.com/news/student-loan-forgiveness …The Department of Education will provide up to $20,000 in debt cancellation to Pell Grant recipients with loans held by the Department of Education, and up to $10,000 in debt cancellation to non-Pell Grant recipients. Borrowers are eligible for this relief if their individual income is less than $125,000 ($250,000 for married couples).www.whitehouse.gov/briefing-room/statements-rele…Borrowers will be eligible for cancellation if they are enrolled in the new SAVE plan, if they originally borrowed $12,000 or less to attend college, and if they have made at least 10 years of payments.www.usnews.com/news/business/articles/2024-01 …Some people will need to submit a "simple application" on studentaid.gov showing that they meet the income caps, a White House official said, while about 8 million people will see their debt canceled automatically because the DOE already has their info on hand.abcnews.go.com/Politics/answering-questions-bide… - People also ask
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Federal Student Aid
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