{"id":52089,"date":"2022-08-25T09:52:03","date_gmt":"2022-08-25T09:52:03","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/08\/25\/whats-a-pell-grant-how-it-affects-student-loan-forgiveness\/"},"modified":"2022-08-25T09:52:03","modified_gmt":"2022-08-25T09:52:03","slug":"whats-a-pell-grant-how-it-affects-student-loan-forgiveness","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/08\/25\/whats-a-pell-grant-how-it-affects-student-loan-forgiveness\/","title":{"rendered":"What&#8217;s a Pell Grant? How it affects student loan forgiveness"},"content":{"rendered":"<section >\n<p>President Biden&#8217;s <span >student loan forgiveness program<\/span> announced Wednesday aims to provide $10,000 in student debt cancellation for millions of Americans.  But for <span >beneficiaries of the federal Pell grant<\/span>that amount is even higher: $20,000<\/p>\n<p>So what exactly is a Pell Grant?  And why is there a special benefit for people who have them?<\/p>\n<p>Created by the Higher Education Act in 1965 as a way to promote access to education, federal Pell Grants are special grants reserved for undergraduate students and certain other students with greater financial need.  Grants usually don&#8217;t have to be paid back, but they often don&#8217;t cover the full cost of college, so recipients take out additional loans.<\/p>\n<figure >\n<div >\n<div ><\/div>\n<p>    <iframe data-src=\"https:\/\/www.cbsnews.com\/embed\/video\/?v=5d5c1a5322ebd7bd42e0777274705fe01661421057#xVgLb9s4Ev4rhoD6Hg5t6i15Yew5cbJbXLcN2i1wh7gwKIqy2ei1omTHTf3fb4aSXym62St6t2hhUuRwOJxvnnk0WFMXZcq2xjhhqRIXhlRXRZqyUskoFYfVWKwlh0%2BYqHs4YVwYaxmLwhg%2FGrIWmTLGd49GvS2RZl3EsC9jmEZuGFkxDYltck6cwLJJmNCIcNvyLN90zcQygTYrH96K5CWeuP745vKTFyze2PXNg%2Fnv5heVX%2F3rcvFzQovfgld0AdRFJZcyv45lLYscjjQKFlXaLPFCkConTb4WMlVE1Q181iQtWE6SolrKtciFUgSenBPOci5SmS9JLKIa90km0xSYIsNa1qgA4xI59jqOvY5jD0%2F0Tjj2kKOBirqHMzBJmjT9fRYo1BcsLnoHqQ539E6kgt0il5ylv35%2F3rXMhKpZVhpj0%2FNM2%2FMCO6CUwquairXKNi0zPH6%2FYpFIQQiLjs0QOKTtdw5vBwPI2FIotBCFwK7qulTj%2BWg%2BYkqJWllDHqlcbBRcWUs%2B5EU2H62aaD6S81E1H1nUsuYjGsDMmY%2FCmFu27Tgk4WFAHJEEJPTChAjBwohalHPfn4%2FqVZNFOZPpfOQ59MH26HwUc58FYWKbDne45Zkepcx0PJ9T26KuY89HKAdJGgUPIt%2FJfshBEmJalm%2F7PukEGn4sl6Cp1Z%2BgEtMK6INvgU4cGvvCNiljVEROYiaJSBwzdlkgkig0wz9DJ7sLo6wgzIjN%2Byo9U44qUwg%2BQ5aly6EsQFklqGMNmtAhaD56LmTMRx3j%2BegYt074l1URDyFo6Z09BK3yuw%2B4CtS%2FStVTDCzquZZthnbo%2BQFqGN%2FlLjRlxlQtqmFmN8H%2BWuv%2Ffy8gkLEa7mUlqlG77Xz0QLJSLN%2B%2FfQUUzRN1bzabc2E6NX8nM9AgSPUyKwuU85BiIKtIrvMJuoZgIrZDm5LQdClxLDMhge0xMG7PD33KQ9vhx6gP4hKUFx1LiopVfAUZ7Q7Xe3r9AxgXq0DeX%2FGW1yzD0Hl1%2Ba73%2Bsmpy227eXfchbMsTTt27TUfwFhFKVURA6kJYgimdCrCZKbEMoOb2o2mBNtT6vBK4DTlHFYu04LfH0Kleq9E9a6JFK9kJOIDuSpBY0W1p1uJh%2BlMJKxJEVF6Af8MvXp5XLXDC8e9cDEcsxj1mWza3wXgcX%2BGtJ9Q3x%2Buh8kmq7JhLmrwrXg%2BWoJB%2FciVjCePEMPhIM53fabyzcS1qG2afc5wF393%2FSRly8kL65JlPIJBZLyCQaV1qQe9%2BFutBygicEgiFuPeNucw5I0%2BwEQt%2B5moq4lJLbt%2FvAvcJOnmL%2BzpT0WxTMVs%2BvLq3fTlYk1hf13lk7u309ezN7986IO2y8k6Y6WJ94ErOH11Ivi6PCH%2BYQGPy6UAVecL8I8FPOqWXtEr25%2FOiEWvHOJc3%2FhkemO55PL68urS9GY3gXvdhzIIkCrRmRbgPxOtU5DuhXUD%2F594UH%2B9bFBdetj11afJI5Zcoloo%2BUns%2BitwhGc4lFhawTEcdn3tKpNHPez6bW02eWzHXR941%2Bj1k42I%2BvhCqRawBGDqcdd%2FTDK1AHdgmdr9YGjPYJlO1Ag0WMgp7GhGoD9j3CoQK5CWRoOPAQbgh%2B8Bwj9A8AcI%2FQCBHyDsAwR9gJAPEPABwj1AsLHuA7jBTwDvC%2BP0DoQceLaf4y8gR5kBdKDYIwkrCDwWnwj9QAOPvngmOoJ%2FfuhLA4D9P2QCutY7M4LfC6KYABB9VFxrBijcJ%2Fw8NQV0ZjCGZziVXZ3dmYNxiJ1GZxLGScG%2BNws81xkGrIJpdK9vjUKD3pqHTsRHyn3Bv4PlumL8HoK6NpUiU7yohJ5DXrMpdWnggX04bWh9fRSYe7D0dwxh8JGrhaoXS5StC9mwwsoFQ2hez0fTAw1HsdbctA4rWjWnvFGqZduG8KLJ60pixXkHITtKQdZU4gkdS3cYZW9AhOt93O5CLGcaQfXf1mP7c8%2FXH0MWR4uHDB%2BfNQ%2B3VVGKqt7%2BU2yxcnZ8ETPXs00%2FNl0ndEITijpme8bug%2FYPpgto0Hwtllucw9qqiNuELvJYq6BLgzpRk2ItKrApUhZlk7IKzaO1FxAf0gmmpmN3g%2B5dSpgc0vzDCkoODj2g4G2tcDjWkTy9ABL6E9uQ6jpn0D7GXUZkFWgvFdMGJK%2Bwy7szbBozHkeceCxgxDSFRcLYtAilZpCIgFEaUZ15T4%2FuU3OHSu%2BvKxlj9xNtIbWJv53Q61bS8aPEdvyEuCzyieP6lESBCElkJcyjnoAyQhylu22iGShZdzMWCBIQy%2B3RcOyYYys4ku37rs2K1X9RPdYrRZr2lhXL6x97q2LTk3WPQT3N6693Yyfc9sjkNRAuutWD%2F3bbx6ZbqplYo4g6bC%2F3BKiNBfbhGFVgfNobw9LPEmutO6MsUtjjuqzB9XctzEB62Gk3OtYYVsHKQfJeGzR0iGn1yzwRMccjvhvEX8OwO9CVXCd3NFDxdHdgT4vdo8wkOrjTSfBG9%2Fn7R3S6eVc0lQ5sDPURgd7j2y5aaaE621ggg8VRcYe%2B%2BZbVK23ubX2NMBKpCCOII9E4frW21aXrgdPTNuWLuvlbb4AaUZep6gwviAbghdsNq%2FlKqw9%2BPhai7c5QLrmGzgpUtqpxS8RNW%2BxroAVYWMyq7ZHvU2ZfUL2MNZ0TxIEbcP4MyIlPYxHYETiXSFoyZieUUCs0zcAxAx8q0g%2Bt0Xa28O0KWtweuXQaH387t72xz%2FYp89zkP3%2F%2BfDQjpL2toDyqtm%2FbWgnul%2FssAZsIE6vuobzJl1dp0cRvqqW2S5PObGjTXNdyb25cP6RTJ6QzZ%2FaPaVxEYOr4R4GnOdXokqrRZdXzMuCPZ1UI4uw8h55y2rXPOtdn99YrnSlPFmvBUtlkKCEWaTI92e7eL3KMUNjcIutMxJLdFkoHpM7fRYY9TmsM%2FzMv0rnqWe7fvbfd7f4D\" ><\/iframe><\/p><\/div><figcaption >\n<p>          <span ><br \/>\n            <svg viewbox=\"0 0 32 32\" aria-hidden=\"true\"><use xlink:href=\"#icon-video\"><\/use><\/svg><\/span><\/p>\n<p>          <span >Biden Unveils Student Loan Forgiveness Plan, Canceling Millions in Debt<\/span><\/p>\n<p>          <span >20:19<\/span><\/p>\n<\/figcaption><\/figure>\n<p>The Biden administration is targeting Pell grant recipients for additional forgiveness &#8220;to smooth the transition back into repayment and help borrowers at higher risk of default or default once payments resume,&#8221; according to the Department of Education.<\/p>\n<p>Approximately 27 million Pell Grant recipients will now be eligible for loan forgiveness.  But for some, $20,000 will hardly hurt.<\/p>\n<p>Lynn Hunt, a data analyst in Portland, Ore., is a Pell Grant recipient who borrowed $45,000 to $50,000 to attend the University of Wisconsin and has paid back about $15,000, but still owes $70,000 in interest.<\/p>\n<p>&#8220;I know (Biden) mentioned, you know, $20,000 for Pell Grants, but the people who had Pell Grants had to take out the most loans,&#8221; Hunt said.  &#8220;So $20,000 is not helping most of these people in any substantial way. And what happens every time we get one of those half-measures is that the can is kicked for another decade.&#8221;<\/p>\n<p>For Yaneth Pe\u00f1a, however, the money will make all the difference.  Pe\u00f1a graduated from North Carolina State University in 2014. She got about $4,000 in grants and about $25,000 in federal loans.  Under Biden&#8217;s forgiveness plan, his debt would be reduced to $5,000.<\/p>\n<p>Relieved of the financial burden, Pe\u00f1a said she could now seriously pursue a graduate degree, something she said she hesitated to consider in the past because of her loans.<\/p>\n<p>&#8220;This could change everything,&#8221; Pe\u00f1a said.<\/p>\n<p>Pell Grant recipients tend to experience more trouble paying off their debt, the Education Department notes.  In the 2020-21 academic year, about 30 percent of all students enrolled in undergraduate programs in the United States received Pell Grants, and nearly all recipients came from families earning less than $60,000 in year.<\/p>\n<p>Almost all Pell Grant recipients are independent students or dependent students in the bottom half of the income distribution, according to a report by the Urban Institute on College Affordability.<\/p>\n<p>Through the program, lower-income Americans can receive up to $6,895 per year for approximately six years. <\/p>\n<p>If you are not sure whether you have received a federal Pell grant, review the financial aid award letters administered through the Office of Federal Student Aid.<\/p>\n<p>    <!-- data-recirc-source=\"\" --><\/p>\n<style type=\"text\/css\">\n<p>      .component--recirculation-type .item:nth-child(5) { display: none;  } #inline-recirc-item--id-47bf347f-5ab7-4570-b8e9-b2fa606e70ce, #right-rail-recirc-item--id-47bf347f-5ab7-4570-b8e9-b2fa606e70ce { display: no;  } #inline-recirc-item--id-47bf347f-5ab7-4570-b8e9-b2fa606e70ce ~ .item:nth-child (5) { display: block;  }\n    <\/style>\n<p><!-- tags --><\/p>\n<ul >In:<\/p>\n<li>Joe Biden<\/li>\n<li>civil rights<\/li>\n<li>education<\/li>\n<\/ul>\n<div ><\/div>\n<\/section>\n<p><a href=\"https:\/\/www.cbsnews.com\/news\/what-is-a-pell-grant-student-loan-forgiveness\/\">Source <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Biden&#8217;s student loan forgiveness program announced Wednesday aims to provide $10,000 in student debt cancellation for millions of Americans. But for beneficiaries of the federal Pell grantthat amount is even higher: $20,000 So what exactly is a Pell Grant? And why is there a special benefit for people who have them? Created by the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[53],"tags":[],"class_list":["post-52089","post","type-post","status-publish","format-standard","hentry","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.1 (Yoast SEO v18.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What&#039;s a Pell Grant? How it affects student loan forgiveness - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2022\/08\/25\/whats-a-pell-grant-how-it-affects-student-loan-forgiveness\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What&#039;s a Pell Grant? How it affects student loan forgiveness\" \/>\n<meta property=\"og:description\" content=\"President Biden&#8217;s student loan forgiveness program announced Wednesday aims to provide $10,000 in student debt cancellation for millions of Americans. But for beneficiaries of the federal Pell grantthat amount is even higher: $20,000 So what exactly is a Pell Grant? And why is there a special benefit for people who have them? 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