This 1 Thing Would Cut Student Debt in Half

this 1 thing would cut student debt in half

Sumary of This 1 Thing Would Cut Student Debt in Half:

  • President Joe Biden (Photo by Scott Eisen/Getty Images) Getty Images This 1 thing would cut student debt in half.
  • Student Loans According to a new report, Congress can cut half of all student loan debt by doubling Pell Grants.
  • The Gender Equity Policy Institute found that by doubling Pell Grants: Student loan borrowers would cut their student loan debt by half or more;
  • Community college students who receive the maximum Pell Grant award will graduate student loan debt-free.
  • Student loan borrowers with a Bachelor’s degree who get the maximum Pell Grant award will students who receive the maximum award will see a 79% reduction in debt.
  • Student loans: who benefits from doubling Pell Grants Pell Grants are need-based grants to students to help pay for higher education at 2-year and 4-year colleges and universities.
  • Currently, the maximum annual Pell Grant is $6,495. Approximately 95% of Pell Grant recipients have a family income below $60,000. Over the past 50 years, more than 196 million Pell Grants have been awarded to students, with nearly 4 in 10 undergraduates receiving one.
  • MORE FOR YOU Here’s who benefits if Congress doubles Pell Grants to $13,000: More than 25 million adults each year could benefit from increasing the Pell Grant;

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