WILMINGTON, Del. – Today, Congresswoman Lisa Blunt Rochester (D-Del.) issued the following statement, applauding the Biden-Harris Administration’s executive action to forgive student loans, up to $10,000, for recipients making under $125,000 and forgiving loans of Pell Grant recipients, up to $20,000. The Administration also extended the pause on repayment of student loans until December 31st. 

 As the cost of higher education has ballooned over the last three decades, so has the amount of debt that Americans have taken on as they’ve looked to make a better life for themselves and their families,” said Blunt Rochester. “Today’s decision by the Biden-Harris Administration is yet another example of the President working to make life better and more affordable for the average American. In the wake of the COVID-19 pandemic, today’s executive action will benefit millions of Americans across the country by unburdening them financially, make the student loan system more manageable for current and future borrowers - all while continuing to spur America’s economic engine. President Biden and his Administration, along with Democrats in Congress will continue to put people over politics.” 

More information will be available to borrowers in the coming weeks to find out whether they qualify for debt cancellation and more details on the proposed revamp to the repayment program.

You can visit studentaid.gov/debtrelief to sign up to be notified automatically when this information is available.

Original source can be found here.