By: Marley Parish
President Joe Biden is providing some relief to federal student loan borrowers, an offer that could help Pennsylvanians, who have some of the highest debt nationwide.
The long-awaited plan, officially announced just a week before the federal pause on payments was set to expire, forgives $20,000 in student debt for Pell Grant recipients and $10,000 for borrowers earning $125,000 or less annually. For married couples, households must make less than $250,000 a year. Biden also proposed reforms to help those in income-driven repayment plans and extended the payment pause — for the final time — on student loans that began in 2020 in response to the COVID-19 pandemic.
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