Roughly 175,000 student loan borrowers in Maine qualify the President’s student debt forgiveness plan.
The administration of President Joe Biden has released state-by-state estimates for the number of people who qualify for debt forgiveness.
President Biden unveiled the plan last month.
It allows borrowers who earn less than $125,000 a year to receive $10,000 loan forgiveness. The same applies for families earning less than $250,000.
The Bangor Daily News reports that of the people in Maine who qualify, 105,300 of them received Pell Grants. That makes them eligible for up to $20,000 in student debt relief.
All told, an estimated 40 million Americans qualify for the plan. That includes up to 20 million who could see their entire debt completely wiped out.
