Student debt relief application opens

The Biden-Harris Administration launched a new student debt relief application to address the more than 40 million Americans with outstanding federal loans. The application is, according to the administration, a streamlined effort at relieving up to $20,000 in loans for Pell Grant recipients and up to $10,000 for non-Pell Grant recipients.

Debtors have until Dec. 31, 2023 to apply for this relief, but moving forward the administration plans on addressing financial burdens from future student loans with a more income-based approach.

Here & Now's Anthony Brooks talks with Betsy Mayotte, president and founder of The Institute of Student Loan Advisors.