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Do You Qualify for Student Debt Relief? What Borrowers Should Know About Biden’s Plan

Experts explain who will get relief, what you need to apply and how to select a repayment plan.

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Biden Unveils Sweeping Student Debt Relief Program

Broad student debt forgiveness has been a long time coming — Democratic presidential candidates including Joe Biden campaigned on the issue in the 2019 primaries. So when President Biden announced that debtors would see as much as $20,000 in loan forgiveness, borrowers temporarily crashed the federal student aid website to see if they qualified. Some 90% of student-debt relief will go to people making less than $75,000 per year, the White House said.

Here’s what experts know so far: