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Jul 31, 2024 · Borrowers would be eligible for relief if they have a current balance on certain types of Federal student loans that is greater than the balance of that loan when it entered repayment due to runaway interest. The Department estimates that this debt relief would impact nearly 23 million borrowers, the majority of whom are Pell Grant recipients.
- Biden-Harris Administration Announces Additional $7.7 Billion ...
Borrowers can receive relief after at least 10 years of...
- Biden-Harris Administration Announces New Plans to Deliver ...
The Administration is proposing to waive loans from...
- Biden-Harris Administration Announces Additional $7.7 Billion ...
Feb 21, 2024 · The borrowers receiving relief are the first to benefit from a SAVE plan policy that provides debt forgiveness to borrowers who have been in repayment after as little as 10 years and took out...
Sep 6, 2024 · In July, the Biden administration announced that it was forgiving a new round of $1.2 billion of loans for some 35,000 borrowers eligible for the program. As of March 21, 871,000 borrowers had ...
May 21, 2024 · Borrowers can receive relief after at least 10 years of payments if they originally borrowed $12,000 or less. Each additional $1,000 in borrowing adds 12 more months until forgiveness. All borrowers on the SAVE Plan receive forgiveness after 20 or 25 years, depending on whether they have loans for graduate school.
Apr 8, 2024 · The Administration’s new plan would cancel debt for all borrowers with only undergraduate student debt who entered repayment 20 or more years ago and cancel loans for borrowers with...
Apr 8, 2024 · The Administration is proposing to waive loans from borrowers who took on debt to enroll in institutions or programs that lost their eligibility to participate in the Federal student aid program or were denied recertification because they cheated or took advantage of students.
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Sep 20, 2022 · The student debt relief plan will help borrowers and families continue to recover from the pandemic and prepare to resume student loan payments in January 2023. Nearly 90% of relief dollars will...
