Student loans received after June 30 are not eligible for relief under President Biden's new initiative canceling a certain amount of debt per borrower. White House Domestic Policy Council Director Susan Rice confirmed June 30 of this year was the cutoff date during a Wednesday briefing that discussed the new relief initiative. The Biden administration will cancel $10,000 per borrower for Americans who make less than $125,000 a year, while recipients of the Pell Grant with the same income cap are eligible for $20,000 in relief. Meanwhile, the student loan payment pause will end December 31, ending a freeze that lasted roughly two years. The move was long awaited by Democrats an
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