The White House named the amounts and told who will write off student debts: data by state - ForumDaily
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The White House named the amounts and told who will write off student debts: data by state

The White House on Sept. 20 released a statewide student debt relief bulletin that could completely eliminate student debt for 20 million borrowers, reports The Hill.

Photo: IStock

About 90 percent of the pending aid will go to Americans making less than $75 a year, according to a White House newsletter. In August, the Biden administration unveiled plans to write off up to $000 for federal borrowers making less than $10 and up to $000 for borrowers who meet income criteria and received a Pell Grant while in college.

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Biden's plan could affect more than 40 million borrowers in all 50 states if all eligible applicants apply online for assistance starting in October. The Department of Education recommends applying by November 15 to receive assistance before resuming federal loan payments in January.

States with relatively large populations, such as California and Texas, have the most eligible borrowers. More than 3,5 million California borrowers are eligible for loan write-offs of up to $10 each—more than 000 million have received Pell grants.

In Texas, more than 3,3 million borrowers are eligible for up to $10 write-offs, while just over 000 million former Pell grant recipients are eligible for up to $2,3 write-offs.

Wyoming has the fewest borrowers eligible for student debt forgiveness, where more than 31 of the approximately 000 borrowers can receive up to $50.

Mississippi has the highest percentage of Pell grant recipients among borrowers at 76 percent—316 out of 400. Meanwhile, about 417 percent of borrowers in New Mexico can liquidate their loans up to $200.

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Arkansas, Utah and Idaho round out the top five states with the highest percentage of eligible borrowers who could potentially have up to $20 written off from student debt balances.

A complete list of states and the number of borrowers can be viewed here.

The administration said its increased leniency towards Pell grant recipients could help narrow the racial wealth gap, with nearly 71% of black and 65% of Hispanic undergraduate borrowers being Pell grant recipients.

Pell grants, with a maximum amount of $6 per academic year, are typically given to undergraduate students in severe financial difficulty. In March of the current academic year, their number increased.

Education chief Miguel Cardona said on social media Sept. 20 that a $400 increase in the Pell grant "reduces the cost of college by 70 percent" for students attending historically black colleges and universities.

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