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The forgiving of up to $20,000 in education debt will provide a significant relief for individuals and families who simply want to be able to thrive. (1/5)
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In keeping with my campaign promise, my Administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023. I'll have more details this afternoon.
The Biden Administration's Student Loan Debt Plan:

Forgiving debt:
$20,000 if you went to college on Pell Grants
$10,000 if you didn't receive Pell Grants

Forgiveness only applies to those earling less than $125,000

Student loan pause extended one final time through Dec 31, 2022

Payment based on income:
If you have undergraduate loans, you can cap repayment at 5% of your monthly income.
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We must be clear in this moment though, education debt forgiveness is a racial, economic, and gender justice issue. Many people carry education debt much higher than the $10k or $20k that will be forgiven. (2/5)
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As the largest holder of education debt, the United States Government must do more to lift this burden off the backs of people who went to school for a better quality of life. (3/5)
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Today’s announcement of education debt forgiveness from the Biden Administration shows us what happens when we organize, share the impact of student loan debt on families, and keep pushing for change. (4/5)
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