"President Joe Biden announced a plan for the federal government to forgive billions of dollars of student loan debt, where around 43 million borrowers could each see up to $20,000 of relief. About 45 million people have student loans in the United States, according to the White House, owing a total of $1.6 trillion dollars," WPBS reports. 

... "Biden’s plan, which he announced through executive action in August, makes multiple changes to the federal student loan system, including outright eliminating $10,000 in federal student loan debt for borrowers with incomes less than $125,000 a year and $20,000 for federal Pell Grant recipients, 93 percent of whom come from families that earn less than $60,000 a year, according to the National Association of Student Financial Aid Administrators."

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 9/1/2022