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Education Secretary Miguel Cardona says the administration has the authority to forgive student loan debt under the Higher Education Relief Opportunities for Students Act of 2003. It allows the secretary to waive or modify loan provisions in response to a national emergency — in this case the coronavirus pandemic.
Cardona proposed a plan that would eliminate up to $10,000 of student debt for borrowers earning up to $125,000 annually, or up to $250,000 for married couples. Those who received Pell Grants, a form of financial aid for low- and middle-income students, are eligible for an additional $10,000 in forgiveness. About 20 million borrowers could see their balances wiped clean.
https://www.washingtonpost.com/education/2023/02/26/biden-student-debt-supreme-court/
Cardona proposed a plan that would eliminate up to $10,000 of student debt for borrowers earning up to $125,000 annually, or up to $250,000 for married couples. Those who received Pell Grants, a form of financial aid for low- and middle-income students, are eligible for an additional $10,000 in forgiveness. About 20 million borrowers could see their balances wiped clean.
https://www.washingtonpost.com/education/2023/02/26/biden-student-debt-supreme-court/