The Bitchuation Room with Francesca Fiorentini
@franifio·283K subscribers·2.7K videos
What's In Biden's Student Debt Relief Plan and How to Use It
Posted
September 11, 2022
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September 11, 2022
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11:17Now PlayingHow will the student loan debt cancellation impact you? If it doesn’t directly, maybe someone you know? You’ve undoubtedly heard already that Biden is cancelling up to $10,000 in student debt for debt holders under an income threshold, and that Pell Grant recipients will receive an additional $10,000 in cancellation. But practically speaking, how does one get this relief? We were joined this week by Braxton Brewington, Press Secretary at The Debt Collective, a membership-based union for debtors and our allies.
The $10,000 in student debt cancellation (for folks making under $125,000 as a single person, or $250,000 as a married couple) plus an extra $10,000 for Pell Grant recipients is enough to zero out the debt of roughly half of student debtors. Unfortunately for the Pell Grant recipients, you have to actively apply to a program in order to be relieved of your debt. More detailed information can be found on the Federal Student Aid Website here
The application for debt forgiveness will be launched in October 2022. You’ll then have until Dec. 31, 2023, to submit your application for student loan debt relief.
Braxton Brewington is the Press Secretary and an organizer at The Debt Collective, the nation’s first debtors’ union. Follow Braxton on Twitter
Aida Rodriguez is a comedian, actress, writer and activist. She has shows in DC, LA and San Jose this fall and her TV special Fighting Words is out NOW on HBOMax. Follow Aida on Twitter
Recorded September 6th, 2022
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