Who Is Left Out Of Pres. Biden's Student Loan Forgiveness Plan?'

The video discusses President Biden's plan to forgive federal student loans, offering up to $10,000 for individuals earning under $125,000 and up to $20,000 for Pell Grant recipients. However, legal challenges have arisen, particularly affecting those with Perkins and FFEL loans. The plan's eligibility criteria have been adjusted, excluding some borrowers. The application process is straightforward, but the plan's future is uncertain due to political and legal hurdles. Over 40 million Americans could benefit, with most relief going to those earning less than $75,000.

What is the maximum amount of loan forgiveness available for borrowers with Pell Grants under Biden's plan?

• $5,000

• $10,000

• $15,000

• $20,000

Which type of loans are excluded from Biden's forgiveness plan unless consolidated into the federal direct loan program?

• Direct PLUS loans

• Perkins loans and FFEL loans

• Subsidized Stafford loans

• Private student loans

How many borrowers are estimated to be excluded from relief due to the exclusion of certain loan types?

• 1,500,000

• 500,000

• 1,000,000

• 800,000

What is required to complete the student loan forgiveness application?

• Name, address, and phone number

• Name, email, and loan account number

• Name, birthday, and Social Security number

• Name, income, and tax return

What might happen if Republicans gain control of the House and Senate regarding the loan forgiveness plan?

• They might reduce the eligibility criteria

• They might expand the plan

• They might pass legislation to outlaw the plan

• They might increase the forgiveness amount