President Biden’s move to cancel student debt was long-expected — but the scope of the effort was not.
The expectation of $10,000 in student loan cancellation was widely reported in the lead-up to Wednesday’s news, but the final package included an additional $10,000 in forgiveness for Pell Grant recipients. The administration also laid out a cap on income-based repayments that could be felt for decades to come.
“It’s a game-changer,” President Biden said Wednesday in unveiling the…
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