Fact Sheet | November 3, 2022

How the Federal Student Loan Cancellation Plan Impacts Californians

On August 24, 2022, President Biden announced that his administration would be cancelling $10,000 – $20,000 of student debt for middle- and lower-income borrowers. Naturally, this announcement has unleashed a wave of follow-up questions among borrowers. This fact sheet is intended to help Californians with student loans navigate the process of determining their eligibility and understanding the program.