Hello, Paniachal feminists. Hello. Today is going to be a little different. We are going

to be quick and dirty today. We are giving you the student loan forgiveness, frequently

asked questions, answers. Everything you need to know about President Biden's recent

announcement about student debt forgiveness, about potentially future student debt forgiveness.

We're going to answer every question that we can today in a very short actionable episode.

We are literally recording this the day before it comes out. And we're doing this because

we know this info is valuable. We know it's important. And share it with your friends.

Share it with your peeps because I want every single person who qualifies for student debt

forgiveness to get it. Okay, let's dive right in immediately. So student loan forgiveness

was announced yesterday by President Biden for anyone making less than $125,000 a year

or $250,000 for a married couple up to $10,000 of debt will be canceled. If you are a

Pell Grant recipient that goes up to $20,000. So again, $10,000 in student debt cancellation

to non-pell grant recipients making less than $125,000. If you are a Pell Grant recipient

that goes up to $20,000. In addition, President Biden announced that the pause on federal

student loan repayment will be extended one final time through the end of this year. And

they should expect to resume payment in January of 2023, January of next year. Okay, a

couple of fun facts about this. $10,000 student loan forgiveness plan would wipe out the student

balances of around 31% of students while halfing the student debt balances of another 21%

of borrowers. So this impacts over half of the people, half of Americans who have student

loan debt, which is millions of people. But in 2019, one of the healthiest periods of the

economy, 10 million borrowers were still behind on their payments. So while we applied progress

today, tomorrow we demand more. This is hugely impactful, especially for students of color,

...