President Biden's student debt relief plan could be life-changing for many Latino borrowers

The Biden administration’s historic plan to alleviate student debt for millions of Americans is a life-changing announcement for Latinos in particular. President Joe Biden is cancelling $10,000 in debt for student borrowers with an income under $125,000, and up to $20,000 for Pell Grant recipients under that same income level.

Under the plan, roughly a third of Latino students will see their school debt eliminated outright, Latino advocacy organization UnidosUS said. Early survey findings from the group just this month found that more than half of Latino respondents were first in their families to take out school loans. “This is a momentous development for those impacted by student debt, including millions of Latino and Latina borrowers,” said organization President Janet Murguía.

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