BOSTON — New data released by the White House on Tuesday shows the number of loan borrowers in Massachusetts and New Hampshire who are eligible to benefit from the Biden-Harris Administration’s student debt relief plan.
The plan will provide up to $20,000 in debt relief to Pell Grant recipients and up to $10,000 to other borrowers.
It’s estimated that more than 40 million borrowers are eligible for the plan and nearly 20 million borrowers could see their entire remaining balance discharged.
In a statement, the Biden-Harris administration said, “The student debt relief plan will help borrowers and families continue to recover from the pandemic and prepare to resume student loan payments in January 2023.”
Nearly 90 percent of relief dollars will go to those earning less than $75,000 per year, according to the plan. No relief will go to any individual or household in the top five percent of incomes in the United States.
In Massachusetts, about 813,000 borrowers are eligible for student debt relief, according analysis from the Department of Education. There is an estimated 401,200 Pell Grant borrowers who are eligible for the relief.
In New Hampshire, data indicates 175,100 borrowers are eligible for student debt relief, in addition to another 85,300 Pell Grant borrowers.
President Joe Biden announced his plan to forgive debt and extend a pause on loan repayments in late August.
Republican state attorneys general are exploring potential legal action to block Biden’s plan.
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