How Biden's student debt cancellation will affect North Carolina
More than one million North Carolinians have some form of student debt. Many could see relief from a Biden administration plan to cancel some of it.
Driving the news: Announced yesterday, the plan could result in approximately 20 million Americans having their debt completely canceled.
- The plan cancels up to $20,000 in student debt for Pell Grant recipients.
- And up to $10,000 for individual borrowers who make under $125,000 per year.
Zoom in: North Carolinians hold nearly $50 billion in student debt, according to data from Federal Student Aid.
- In 2019-2020, 55% of college graduates in North Carolina had student loan debt, according to the Institute for College Access & Success.
- The average debt was $29,681.
More Raleigh stories
No stories could be found
Get a free daily digest of the most important news in your backyard with Axios Raleigh.