Released: August 24, 2022

Who qualifies for $10,000 in student debt cancellation?

Source: Danielle Douglas-Gabriel & Jeff Stein, Washington Post (Paid Registration)

Under the plan, borrowers can qualify for up to $10,000 in student loan forgiveness, and recipients of Pell Grants are eligible for an additional $10,000 in forgiveness. Only borrowers earning under $125,000 per year — or $250,000 per year, for a married couple filing taxes jointly — qualify.

Education loans originated and held by private lenders are ineligible for cancellation.  Under the new policy, graduate student loans are eligible for up to $10,000 in debt forgiveness.

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