If you haven't heard the news already, President Biden has announced a three-part student loan forgiveness plan.
Check out this press release from the White House for all the details right HERE.
It certainly has been a heavily debated, and potentially challenged, announcement.
As it stands now, students earning income of less than $125,000 ($250,000 if married filing jointly) in 2020 or 2021 can look forward to debt cancellation of up to $20,000 for Pell Grant recipients and up to $10,000 for non-Pell Grant recipients.
Additionally, the pause on federal student loan repayment will be extended one final time through December 31, 2022.
Of course, if you need help in planning for this or any transition in your life, contact me at 954-302-6321 or luana@lmcorral.com.