Husson University reacts to loan forgiveness plan: “exciting news”

Published: Aug. 24, 2022 at 9:45 PM EDT
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BANGOR, Maine (WABI) - After President Biden announced a plan today to forgive some federal student loan debt for millions of Americans, officials at Husson University called it “exciting news.”

The policy allows for $20,000 of loan forgiveness for Pell grant recipients, and $10,000 for non-Pell grant recipients who make less than $125,000 a year.

Husson’s website says 80% of their students have federal loans.

Michael Fox is the Vice President of Enrollment Management at Husson.

He says more details are coming, but offering this form of relief along with other financial aid like scholarships and grants will make college more affordable, which can increase opportunity.

”This really is something that’s supposed to help students that have already completed their education,” Fox said. “As they continue to borrow, these programs will help those students who are going to be graduating and going out into the world, and will hopefully start to improve the economy, and avoid some of the pitfalls that we’ve seen in the last couple of months due to the pandemic.”

You can find full details of the plan here and reactions from Maine’s congressional delegation here.