The Biden administration approved a total of $32 billion in student loan forgiveness over the course of the last year. Here’s a quick overview of Biden’s recent student loan forgiveness plan announced this week:
-
- $10,000 for federal student loan borrowers who didn’t receive Pell Grants (only applies to those earning less than $125,000 a year or couples earning less than $250,000 a year)
- $20,000 for federal student loan borrowers who received Pell Grants.