On August 24, 2022, President Biden announced that the US Department of Education will cancel $10,000 in federal student loan debt for existing borrowers who received loans by 6/30/22 with incomes below $125K (or $250K for married couples), and $20,000 in cancellation to those who received Pell Grant assistance as an undergraduate. The student loan payment pause is extended until the U.S. Department of Education is permitted to implement the debt relief program or the litigation is resolved. Payments will restart 60 days later. If the debt relief program has not been implemented and the litigation has not been resolved by June 30, 2023 – payments will resume 60 days after that. Additional information is available at https://studentaid.gov/debt-relief-announcement.