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The Guardian - US
The Guardian - US
Business
Associated Press

Student loan forgiveness: what you need to know about Biden’s plan

Joe Biden Pell Department of Education
President Joe Biden speaks on student loan debt in the Roosevelt Room of the White House, on Wednesday.
Joe Biden speaks on student loan debt in the Roosevelt Room of the White House, on Wednesday. Photograph: Alex Wong/Getty Images

President Joe Biden said on Wednesday that many Americans can have up to $10,000 in federal student loan debt forgiven. That amount increases to $20,000 if they qualified for Pell grants. Here’s what we know so far and what it means for people with outstanding student loans:

Who qualifies for student loan forgiveness?

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