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

image:Politico.com

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

image:nbcnews.com

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

image:whitehouse.gov

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

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

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

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“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,

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