Big student loan forgiveness plan announced by Biden
President Joe Biden in the East Room of the White House, Aug. 10, 2022, in Washington. Biden is set to announce $10,000 federal student loan cancellation on Aug. 24, for many, extend repayment pause for others. (AP Photo/Evan Vucci, File)
| August 24, 2022 9:20 AM
WASHINGTON (AP) — President Joe Biden on Wednesday announced his long-awaited plan to deliver on a campaign promise to provide $10,000 in student debt cancellation for millions of Americans — and up to $10,000 more for those with the greatest financial need — along with new measures to lower the burden of repayment for their remaining federal student debt.
Borrowers who earn less than $125,000 a year, or families earning less than $250,000, would be eligible for the $10,000 loan forgiveness, Biden announced in a tweet...
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