The White House released state-by-state data on how President Biden's student debt relief plan will impact borrowers.
: Over 40 million borrowers are eligible for the debt relief, and nearly 20 million borrowers could see their entire remaining balance discharged, according to the White House.
States with larger populations, including California, Florida, New York and Texas, have the most borrowers eligible for debt relief.: Nearly 90% of relief dollars will go to those earning less than $75,000 per year, according to the fact sheet. California has the most borrowers, with more than 3.5 million people eligible for the $10,000 debt relief, and some 2.3 million Pell Grant recipients eligible for the $20,000 forgiveness.Of noteNearly 71% of Black undergraduate borrowers are Pell Grant recipients, and 65% of Latino undergraduate borrowers are Pell Grant recipients.: The Department of Education will release additional details in the coming weeks on how individuals can apply for the debt relief.
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