Canceling Student Debt
For years we have been pressing for student debt cancellation. And recently the Biden-Harris Administration announced a plan to cancel student debt that will benefit over 40 million people. Eligible borrowers can receive up to $20,000 in debt cancellation for Pell Grant recipients and up to $10,000 in debt cancellation for non-Pell Grant recipients.
According to official estimates released by the White House, approximately:
- 813,000 Massachusetts borrowers are eligible for debt cancellation.
- 401,200 Massachusetts Pell Grant recipients are eligible for debt cancellation.
- 344,100 Massachusetts borrowers are eligible to have their student debt fully cancelled.
In the Massachusetts 7th Congressional District, roughly:
- 101,800 borrowers are eligible for debt cancellation.
- 60,100 Pell Grant recipients are eligible for cancellation.
- 41,400 borrowers are eligible to have their student debt fully canceled.
President Biden’s student debt cancellation plan is historic and will send ripples forward for generations, which is why, in partnership with community, we’ve been calling for it to be implemented swiftly, efficiently, and equitably so that everyone eligible can access this critical relief.
Applications will be available soon. Sign up today at studentaid.gov/debtrelief to learn more about the plan and to receive notifications for when this relief will be available. |
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