President Biden Signs Student Loan Forgiveness

Washington- President Joe Biden has announced millions of American’s Student Loans will be forgiven, with some stipulations.

The President says that a portion of student loans will be forgiven for some individuals making less than $125,000 a year. Those who received the Pell Grant will qualify for $20,000 in forgiveness while those who did not will receive $10,000 in forgiveness.

Biden also announced those with federal loans can cap their payment to 5% of their monthly income.

Payment freezes will also be extended under the plan. 

President Biden will speak on the plan at a 2:15pm Press Conference.