What To Expect When You Apply For Student Loan Forgiveness Under Two Big Biden Initiatives

Contributing sentiments towards policy:

66% :134 Groups Urge Biden To Extend Expiring Student Loan Forgiveness Initiatives, While Top Officials Tell Borrowers To Apply NowStudent Loan Borrowers Should Write Down These Critical Dates For Loan Forgiveness And RepaymentMillions Of Student Loan Borrowers Will Get Refunds Of Payments Under Biden's Loan Forgiveness Initiative
61% : Then, the Education Department will apply the approved student loan forgiveness award in the following order: first to defaulted student loans held by the government, then to commercially-held FFEL loans in default, then to Department-held Direct and FFEL loans in good standing, and then to Department-held Perkins loans in good standing.
43% : Borrowers who received Pell Grants can get the maximum loan forgiveness amount, while borrowers who did not receive Pell Grants can still get up to $10,000 in debt cancellation.
37% : The other -- Biden's one-time debt cancellation initiative to wipe out up to $10,000 or $20,000 in student loans for most borrowers -- is just getting started.

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