Student Loan Debt Relief

The Biden-Harris Administration and the U.S. Department of Education announced a Student Loan Debt Relief Plan to help federal student loan borrowers transition back to re-paying loans after the economic crisis brought on by the pandemic. This plan includes:

  • An Extension of the Student Loan Pause
    The student loan pause is extended a final time through December 31, 2022, with payments resuming in January 2023.
  • Student Loan Debt Cancellation
    The U.S. Department of Education will provide up to $20,000 in debt cancellation to Pell Grant recipients with loans held by the Department of Education and up to $10,000 in debt cancellation to non-Pell Grant recipients. Borrowers are eligible for this relief if their individual income is less than $125,000 or $250,000 for for married couples or heads of households.

    If the U.S. Department of Education doesn't have your income data, the Administration will launch a simple application which will be available by early October.

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Last Updated: 9/13/22