August 24, 2022
Today’s announcement by President Biden comes with mixed emotions from people across the socio-economic spectrum. Our aim is to provide our readers with information based on at the latest updates that we hope will allow you to navigate these waters should you need the information. Based on the announcement today, borrowers meeting certain income criteria are eligible to have a portion, if not all, of their student loan debt forgiven.
As with any new development, specific details must be gathered and presented in an easy to comprehend manner. We shall begin the series of articles with what is known to date, along with important links for further research. Please feel free to reach out to our staff with information that you believe would be helpful for the Hopi people.
What is known as of today:
- Borrowers are eligible for this relief if their individual income is less than $125,000 ($250,000 for married couples).
- The Department of Education will provide up to $20,000 in debt cancellation to Pell Grant recipients with loans held by the Department of Education, and up to $10,000 in debt cancellation to non-Pell Grant recipients.
Source: The White House
Below are links to help guide you along with information needed to get started: