Monday, June 17, 2024

Learn More about WPBS Passport! Click Here

HomeVideoWATCH: Student loan borrowers reflect on what Biden's plan could mean for...

WATCH: Student loan borrowers reflect on what Biden’s plan could mean for them

President Joe Biden announced a plan for the federal government to forgive billions of dollars of student loan debt, where around 43 million borrowers could each see up to $20,000 of relief.
About 45 million people have student loans in the United States, according to the White House, owing a total of $1.6 trillion dollars.

Biden’s plan, which he announced through executive action in August, makes multiple changes to the federal student loan system, including outright eliminating $10,000 in federal student loan debt for borrowers with incomes less than $125,000 a year and $20,000 for federal Pell Grant recipients, 93 percent of whom come from families that earn less than $60,000 a year, according to the National Association of Student Financial Aid Administrators.

The PBS NewsHour spoke to 7 borrowers of federal student loans, all of whom will be impacted in some way by Biden’s plan. Here’s what they said the plan will mean for them.

Stream your PBS favorites with the PBS app: https://to.pbs.org/2Jb8twG
Find more from PBS NewsHour at https://www.pbs.org/newshour
Subscribe to our YouTube channel: https://bit.ly/2HfsCD6

Follow us:
TikTok: https://www.tiktok.com/@pbsnews
Twitter: http://www.twitter.com/newshour
Instagram: http://www.instagram.com/newshour
Facebook: http://www.pbs.org/newshour

Subscribe:
PBS NewsHour podcasts: https://www.pbs.org/newshour/podcasts
Newsletters: https://www.pbs.org/newshour/subscribe