Track the impact: Dept. of Education releases student loan borrower eligibility estimates by state

Analysis shows how many borrowers could be eligible in each state

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U.S. Department of Education
The White House recently released state-by-state data on how President Joe Biden’s plan for student loan debt relief will impact borrowers across the nation.
The Biden Administration announced its plan last month to give working and middle-class American’s “more breathing room” by providing up to $20,000 in debt relief to Pell Grant recipients and $10,000 to other borrowers. The administration estimated over 40 million borrowers would be eligible for relief and 20 million borrowers could see an entire discharge of their remaining balances.
“The Biden Administration’s student debt relief plan will help borrowers and families recover from the pandemic and prepare to resume student loan payments in January 2023,” a White House press release read. “Nearly 90% of relief dollars will go to those earning less than $75,000 per year – and no relief will go to any individual or household in the top 5% of incomes in the United States. By targeting relief to borrowers with the highest economic need, the Administration’s actions are also likely to help narrow the racial wealth gap. Nearly 71% of Black undergraduate borrowers are Pell Grant recipients, and 65% of Latino undergraduate borrowers are Pell Grant recipients.”
The Department of Education released an analysis of the plan, including state-by-state data on the number of individuals estimated for eligibility.
For more information, visit the StudentAid.gov announcement.
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Tony Lascari