President Biden on August 24 made good on his campaign promise to ease the burden of federal student loan debt, the Newser website reports today (August 25, 2022).
Under Biden's plan, many Americans will be granted $10,000 in debt cancelation; those with the greatest financial need could see an additional $10,000 wiped away.
Borrowers who earn less than $125,000 a year, or families earning less than $250,000, will be eligible for the $10,000 loan forgiveness.
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