President Joe Biden is continuing to pursue his plan to cancel up to $20,000 in student debt for millions of Americans and announced that more than 16 million Americans have been approved for the program.
In August 2022, Biden announced his plan to cancel up to $20,000 in student debt held by Pell Grant recipients and up to $10,000 in debt held by non-Pell Grant recipients earning less than $125,000 per year. On Jan. 27, the Biden White House provided an update on the progress of applications, stating that more than 26.26 million Americans had either applied or had already been deemed eligible for the debt cancellation program within the first month of its rollout.
