Forgiveness will be restricted based on income. Borrowers “with annual income during the pandemic of under $125,000 (for individuals) or under $250,000 (for married couples or heads of households)” will be eligible for up to $10,000 in relief, according to the Education Department. Borrowers under the same income caps who received a Pell Grant in college will be eligible for up to $20,000 in debt cancellation.
Hear from both sides of the aisle in “Swing State,” FOX8’s North Carolina political program, with Mark Walker and Odell Cleveland.
