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News Update

California home to largest number of student debt holders eligible for forgiveness

About 90% of student loan relief is expected to go to those earning less than $75,000 a year, according to a White House fact sheet. Larger states like California and Texas are set to receive the largest portion of forgiveness.

In California, which has the largest number of student debt holders, more than 3.5 million individuals with student debt are eligible for up to $10,000 in debt relief. The state is also home to 2.3 individuals who received the Pell Grant and will be eligible for up to $20,000 in debt relief. The state with the fewest eligible student debt holders is Wyoming, which is home to nearly 50,000 eligible individuals.

Individuals are awaiting the release of the application, which is expected to be up in early October. The Department of Education recommends that applicants apply before Nov. 15 to ensure they receive the debt forgiveness before payments restart in January.

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