Washington CNN —
archive.cms.cnn.com/_components/paragraph/instances/paragraph_F91C7E9C-01C4-068D-6385-A3D0C8CAF837@published” data-editable=”text” data-component-name=”paragraph”> The application for President Joe Biden’s student loan forgiveness plan is expected to go live as soon as this week.
archive.cms.cnn.com/_components/paragraph/instances/paragraph_9569383C-CA59-0647-E597-A3DDA8E73637@published” data-editable=”text” data-component-name=”paragraph”> Announced in late August, the plan will deliver federal student loan forgiveness to millions of low- and middle-income borrowers.
archive.cms.cnn.com/_components/paragraph/instances/paragraph_1B3ED398-A542-4239-5076-A3DE603078C1@published” data-editable=”text” data-component-name=”paragraph”> Individuals who earned less than $125,000 in either 2020 or 2021 and married couples or heads of households who made less than $250,000 annually in those years will see up to $10,000 of their federal student loan debt forgiven.
archive.cms.cnn.com/_components/paragraph/instances/paragraph_17214C8E-0294-CCE2-1E80-A3DFBB84597A@published” data-editable=”text” data-component-name=”paragraph”> If a qualifying borrower also received a federal Pell grant while enrolled in college, the individual is eligible for up to $20,000 of debt forgiveness.
archive.cms.cnn.com/_components/paragraph/instances/paragraph_2D26F6E8-71D1-F764-6E7F-A3EDD44AE648@published” data-editable=”text” data-component-name=”paragraph”> In addition to federal Direct Loans used to pay for an undergraduate degree, federal PLUS loans borrowed by graduate students and parents may also be eligible if the borrower meets the income requirements.
archive.cms.cnn.com/_components/paragraph/instances/paragraph_C252C566-E87F-938F-C424-A3DD093A2325@published” data-editable=”text” data-component-name=”paragraph”> …
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