Biden will forgive up to $20,000 in student loan debt and extend payment pause

President Joe Biden announces a loan relief for students who are making less than $125,000 per year.

This announcement makes a big relief for Pell Grant recipients who wents college.

The president will announce the plan at 2.15p.m. ET.

Since Biden got a chair, he continued getting political pressure for the relief of student loans.

From the previous estimation, it is concluded that canceling student loan debt will charge $230 billion to the federal government.

“It’s great to see the president take action to forgive the crushing debt burdens of borrowers from the most disadvantaged backgrounds,” said Lindsay Owens,

Through the announcement everyone is very excited for the plan to be announce by Joe Biden at 2.15p.m. ET.