In the coming weeks, applications could become available for student loan forgiveness under the new Biden administration plan. In states like Wisconsin, borrowers might have to make note of some tax implications. The Biden plan, which includes income requirements, provides loan forgiveness of up to $10,000 for federal Direct loans, and up to $20,000 for Pell Grant recipients. .
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Wisconsin officials are informing college employees, from professors to custodians, that they can get their student loans forgiven through a federal program for which many wrongly assumed they were ineligible.
Milwaukee leaders are begging local high school seniors to fill out their paperwork to receive financial aid for college this fall, saying far fewer students have done so during the COVID-19 pandemic.
The FAFSA, which stands for Free Application for Federal Student Aid, is key to college-going students ability to get federal grants and loans to pay for college. It also helps students get scholarships and other financial aid from the state and the colleges they want to attend.
On Wednesday, Milwaukee Public Schools Superintendent Keith Posley, University of Wisconsin-Milwaukee Chancellor Mark Mone, Milwaukee Area Technical College President Vicki Martin and Milwaukee Mayor Tom Barrett met virtually with community organizations to call on anyone who knows a high school senior to make sure they filled out the form.