- $10k cancellation for those making less than $125k annually
- $20k cancellation for Pell Grant recipients
- Student loan pause extended until December 31st
- 5% of monthly income cap on student loan payment (optional?)
Honestly pretty sick for me and my family. Wipes out my debt, my mom's debt, and most of my sister's. Wish we could've gotten more, since there's no good reason not to go to at least $50k, but from a selfish PoV it's hard to complain in the moment
"Raise the amount of income that is considered non-discretionary income and therefore is protected from repayment, guaranteeing that no borrower earning under 225% of the federal poverty level—about the annual equivalent of a $15 minimum wage for a single borrower—will have to make a monthly payment."
dog, if you're income's very low, you'll not be counted for having any discretionary income, and constructively get counted for making payments, while actually paying nothing out of pocket. and interest will stop accruing. opt into this when possible/ if needed. srs.
all of these words make me very angry that they don't just forgive it instead of setting up all these hoops I gotta jump through that also rely on me staying poor