How many Hawaii student loan borrowers will benefit from Biden’s plan? Here’s a look
HONOLULU (HawaiiNewsNow) - Over 111,000 student loan borrowers in Hawaii are eligible for Biden’s student debt relief program.
That’s according to a fact sheet released by the White House on Tuesday.
Another 65,000 Pell Borrowers are eligible for the student debt relief up to $20,000.
Last month, the White House announced the president’s plan to give working and middle-class Americans more breathing room by providing debt relief.
The Biden Administration expects that over 40 million borrowers are eligible for its student debt relief plan, and nearly 20 million borrowers could see their entire remaining balance discharged.
They also said nearly 90% of relief dollars will go to those earning less than $75,000 per year. No relief will go to any individual or household in the top 5% incomes in the nation.
The student debt relief plan is designed to help borrowers and families recover from the pandemic and prepare to resume student loans payments next January.
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