President Joe Biden on Wednesday morning announced a plan for student debt forgiveness. The White House said that since 1980, the total cost of four-year public or private college has nearly tripled, and that the typical undergraduate college student with debt now graduates owing almost $25,000. Here’s what we know so far:
Q: Who’s eligible for student debt forgiveness?
A: Student debt holders making less than $125,000 in individual income, or less than $250,000 for married couples or heads of households. Also eligible are Pell Grant recipients with loans held by the U.S. Department of Education.
