The new program could help relieve student loan debt for over 40 million people. This should be taking place in the USA only by November 2022. There are certain rules and restrictions that apply like when you took your loans out and the amount. The Pell grant is what the money is being pulled from. It hasn’t been used from the previous year since Covid-19. The amount being relieved is 10,000 although people are pressuring Biden to give out as much as 50,000 per person to completely relieve the debt.

     “I will keep pushing for more because I think it’s the right thing to do,” said Sen. Elizabeth Warren, D-Mass., who had urged Biden to forgive up to $50,000 a person. “But we need to take a deep breath here and recognize what it means for the president of the United States to touch so many hard-working middle class families so directly.”