Nearly 1.5M Borrowers Eligible For Student Loan Forgiveness

FILE – Graduates walk at a Harvard Commencement ceremony held for the classes of 2020 and 2021, Sunday, May 29, 2022, in Cambridge, Mass. The Department of Education says borrowers who hold eligible federal student loans and have made voluntary payments since March 13, 2020, can get a refund. (AP Photo/Mary Schwalm)

Nearly one-point-five-million borrowers are eligible for student loan forgiveness in Illinois. President Biden’s administration announced the forgiveness plan last month, offering up to ten-thousand dollars for borrowers earning less than 125-thousand dollars a year, and up to 20-thousand dollars for those who received Pell Grants. More than 863-thousand people in Illinois could get the 20-thousand-dollars in relief.