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Biden to cancel up to $10K in federal student loan debt for certain borrowers and up to $20K for Pell Grant recipients

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WASHINGTON – The Biden administration announced Wednesday that it will cancel up to $10,000 in student debt for borrowers who earn $125,000 a year or less and up to $20,000 for recipients of Pell Grants.

Couples who earn $250,000 a year or less and file taxes jointly will also qualify for cancellation of up to $10,000 for each partner.

The administration is also extending the payment pause on federal student loans for a final time through Dec. 31.

In a tweet, President Joe Biden said that he would provide further details on the announcement Wednesday afternoon.

Read more from NBC News.

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Sourabh Verma franklin
Sourabh Verma,From Franklin Tn - Sub-editor in Asian News International(ANI) I am a detailed-driven journalist with 3+ years of experience in news writing and copy-editing, I can file quick, compelling and error-free stories as they break. I have sound knowledge of national and international issues and have covered stories across beats, including politics, parliament, legal and crime like drugs and Human Trafficking at Asian News International (ANI), where I currently work. Some of these include extensive coverage of the 2019 Lok Sabha polls, several state Assembly elections, Parliament sessions, COVID-19 pandemic and other stories of national importance. A typical working day involves copy-editing dozens of drafts, managing junior sub-editors in shifts and keeping an eye on developing stories. This added responsibility followed a couple of years of filing stories based on press briefings, bytes and inputs from reporters on the ground.
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