On August 24, President Biden announced a three-part plan to deal with student loan debt which includes $20,000 in loan relief to borrowers with loans held by the Dept. of Education whose individual income is less than $125,000 ($250,000 for married couples) and who received a Pell Grant. Borrowers who meet those income standards but did not receive a Pell Grant in college can receive up to $10,000 in loan relief.