Student Loan Debt Relief Plan
Student Loan Cancellation and Final Student Loan Pause Extension
The Supreme Court issued a decision on June 30, 2023, prohibiting Biden from moving forward with his one-time student debt relief plan, which means that no debt can be discharged under this program. Interest on federal student loans will start accruing on Sept. 1, 2023, and first payments will be due in October. When designing a new debt relief program, the Department of Education will consider ways to ensure that borrowers making payments do not reduce their eligibility for debt relief. Please visit the Federal Student Aid debt relief website for updates.
Biden-Harris Debt Relief Plan
On Aug. 24, 2022, the President Joe Biden-Kamala Harris administration announced a plan to provide targeted student loan debt cancellation to borrowers with loans held by the Department of Education, as well as a final extension on the pause on student loan repayment, interest and collections through Dec. 31, 2022.
President Biden has capped the loan cancellation at $10,000 for single borrowers making less than $125,000, or households earning less than $250,000, during the pandemic. The relief includes current students and borrowers who have federally held undergraduate, graduate, and Parent PLUS loans where the first disbursement was on or before June 30, 2022. (Borrowers who were dependent students in the 2021-22 year will be eligible for relief based on parental income rather than their own income.) Borrowers who fall under the income caps and also received Pell Grants will receive an extra $10,000, totaling $20,000 in forgiveness.
Current Brandeis students can view their loan and Pell grant information by going to Workday and selecting Student Financial Aid and then Financial Aid Portal. Brandeis alumni can view their loan and Pell grant information by logging into the FSA website.
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