Photo: Getty Images
On Wednesday, President Joe Biden announced the cancellation of $10,000 in student loan debt for certain borrowers. Anyone who earns $125,000 or less is eligible for the financial forgiveness. Pell Grant recipients will receive up to $20,000 in loan cancellation.
The Biden Administration also announced an extension of the student loan payment pause through December 31st.
Here are more details on how to qualify for loan forgiveness.