Tulane students make their way through campus on move-in week for the 2021 fall semester. (Photo by JC Canicosa/Louisiana Illuminator)
According to the White House, 608,000 Louisiana residents – or a 13% of the state’s population – will be eligible for student debt relief.
Of that number, about 608,000 are eligible for $10,000 in federal student loan forgiveness, including 435,000 eligible for $20,000 in loan forgiveness. The increased forgiveness is for students who received the Pell Grant, which serves economically disadvantaged students.
To be eligible for debt forgiveness, borrowers need to earn less than $125,000 per year, or $250,000 as a couple. According to the U.S. Census Bureau, the median household income in Louisiana is about $50,000.
The application for the one-time debt relief is expected to open in early October.
The Biden administration expects 40 million Americans to eligible for the debt relief, with about half of those having their entire debt forgiven, according to the press release from the U.S. Department of Education.
Sign up to receive updates on student debt relief at www.ed.gov/subscriptions.
GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
CORRECTION: This story and its headline originally included an incorrect total for the number of people eligible for student debt relief in Louisiana.
Our stories may be republished online or in print under Creative Commons license CC BY-NC-ND 4.0. We ask that you edit only for style or to shorten, provide proper attribution and link to our web site. Please see our republishing guidelines for use of photos and graphics.
Related News
