William Alexander was ecstatic when he read President Joe Biden’s tweet on Wednesday, announcing the administration’s student loan forgiveness plan.
“Literally life-changing,” he says.
The news means that his wife will have $20,000 of her debt wiped, since she received Pell Grants in school and the couple makes less than $250,000 a year. Alexander, who lives in Jacksonville, FL, also had his own loans forgiven earlier this year under the borrower’s defense rule — which allows borrowers to ask the Department of Education to erase their student debt if a school lied to them about things like job prospects or potential salaries.
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