Joe Biden Administration's Student Loan Forgiveness Plan


Joe Biden

United States President, Joe Biden has rolled out plan to give middle and working class families to prepare for the Federal Student Loan payment.

In keeping with my campaign promise, my Administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023.

The Biden Administration's Student Loan Plan

Forgiving Debt

  • $20,000 if you went to college on Pell Grants.
  • $10,000 if you didn't receive Pell Grants.

Forgiveness only applies to those earning less than $125,000. Student loan pause extended tone final time through December 31, 2022.

The payment is based on income: If you have undergraduate loans, you can cap repayment at 5% of your monthly income.