Student Loan Debt Relief Plan
Student Loan Cancellation and Final Student Loan Pause Extension Announced by Biden-Harris Administration
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.
ED will be announcing further details on how borrowers can claim this relief in the weeks ahead. Please visit the Federal Student Aid debt relief website for updates.