General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPer Bloomberg: President Biden forgives 10K student loans, 20K Pell Grant, and freezes repayment
for 4 more months
Just A Box Of Rain
(5,104 posts)MichMan
(11,932 posts)Just A Box Of Rain
(5,104 posts)BComplex
(8,053 posts)All college should be free so that we can have better educated people and more well informed voters.
Wingus Dingus
(8,054 posts)I guess everyone who's in school now has to gamble on taking out loans in the hopes that someday the magic wand will reappear when it's their time to repay.
AkFemDem
(1,826 posts)With the nitty gritty details, especially the income cap issue. Have read $125k/borrower but still many questions as to whether thats household cap or not.
AZSkiffyGeek
(11,026 posts)Not household.
AZSkiffyGeek
(11,026 posts)MichMan
(11,932 posts)Johnny2X2X
(19,066 posts)Allows Biden to show people who he's fighting for every few months rather than just once.
DURHAM D
(32,610 posts)I thought it did not need to be repaid.
pwb
(11,275 posts)you can be forgiven more, 20,000?
https://www.bloomberg.com/news/articles/2022-08-24/biden-set-to-freeze-student-loan-repayments-for-four-more-months?srnd=premium
DURHAM D
(32,610 posts)A grant is not a loan.
pwb
(11,275 posts)$40,000 loan
- $10,000 pell grant
=$30,000 balance eligible for forgiveness?
Is my take on it.
DURHAM D
(32,610 posts)If you got a Pell grant it indicates you are low income thus you can get up to $30K additional loans forgiven.
AZSkiffyGeek
(11,026 posts)They may not have as large a loan, but they may need the forgiveness more.
wcmagumba
(2,886 posts)later in life at another college, wondering if the Pell Grant reduction will still apply, I am under the presumed income level...?