I have heard from constituents who cannot afford to buy homes, start families, or buy their basic necessities because of crushing student loan debt. That is why I called on the President to forgive these debts, and I continue to work alongside my colleagues in Congress to lower the cost of college.

The Biden Administration announced it will: 

• forgive up to $20,000 in debt for Pell Grant recipients and up to $10,000 in debt for non-Pell Grant recipients, 
  
• extend the pause on student loan payments through December 31st, 
  
• and cap loan repayment at 5% of borrowers’ monthly income. 

Borrowers who earn less than $125,000 per year are eligible for loan forgiveness. In the coming weeks, the Department of Education will release more information on how to qualify for debt relief. At studentaid.gov/debtrelief, you can sign up to be notified when this information becomes available. To learn more about what debt relief may mean for you, click here.

For graduates who work in public service, we created the Public Service Loan Forgiveness Program so workers can have their loans forgiven after 10 years of service. The Biden Administration has increased flexibility for this program through October 31st. You can find out if you qualify at PSLF.gov.

Millions will breathe easier because President Biden has used his executive power to offer working-class Americans much-needed relief. I will continue the fight in Congress to address college's rising costs and ensure every American can access the education they need to provide for themselves and their family. 

To follow what I’m working on both in Washington and in Connecticut, visit my Facebook page, follow me on Twitter, or follow me on Instagram.   

Regards,

John B. Larson
Member of Congress