On August 24, 2022, the U.S. Department of Education announced the Biden Administration's
efforts to provide $10,000-20,000 in student loan debt cancellation. For more information,
please refer to the White House Fact Sheet.
Also announced was the final extension of the pause on student loan repayment, interest
and collections through December 31, 2022, which was set to expire at the end of September.
There were a number of other proposals that may not affect all borrowers. For more
information on all topics and how they may affect you, please refer to the press release. Federal Student Aid (FSA) also has a Student Debt Relief Plan FAQ.
View updates on NASFAA's Student Loan Debt Cancellation Web Center.
Addendum: To allow resolution of the litigation surrounding the executive order, the
Department of Education has extended the repayment pause while the litigation plays
out, announcing that the repayment pause will resume 60 days after the Department
is permitted to implement the program or the litigation is resolved. If the program
has not been implemented and the litigation has not been resolved by June 30, 2023
— payments will resume 60 days after that.