President Joe Biden revealed a loan forgiveness plan in August that will forgive $10,000 of student debt for borrowers earning less than $125,000 per year, and up to $20,000 for Pell Grant recipients.
But another component of the plan is often overlooked, Secretary of Education Miguel Cardona explained during a recent episode of “Influencers with Andy Serwer.”
Income-driven repayment plans make student monthly loan payments affordable by basing them off a borrower’s income and family…
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