How to find out if you qualify for federal student loan assistance

PITTSBURGH (KDKA) – President Biden announced a plan to cancel up to $20,000 in federal student loan debt for eligible Americans. Here’s how you can find out if you qualify.

Borrowers who make less than $125,000 a year will be eligible for loan forgiveness of up to $10,000. Those who have received Pell grants are eligible for an additional $10,000 in aid.

The White House says about 43 million borrowers will benefit from the debt forgiveness portion of the plan that was announced Wednesday.

In addition to the announced loan forgiveness plan, President Biden also extended the current student loan moratorium until December 31st.

To find out if you qualify for federal student loans and for more information, visit StudentAid.gov or Click here.