Federal student loan forgiveness could erase up to ,000 of debt for many Californians

Around 4 million Californians have some amount of student loan debt, and many of them could receive some relief this winter thanks to a federal pla...

September 12, 2022
1:32 PM

Around 4 million Californians have some amount of student loan debt, and many of them could receive some relief this winter thanks to a federal plan announced in mid-August.  Borrowers who earned less than $125,000 (for individuals) or $250,000 (for couples) during either of the last two years are eligible for up to $10,000 of forgiveness, which rises to $20,000 if you were a Pell Grant recipient. During the plan's announcement, President Joe Biden added that federal student loan debt repayment would continue to be paused through the end of the year, with payments resuming in Jan.

Janelle Salanga