Hagåtña, Guam – The Leon Guerrero-Tenorio Administration announces that there are 6,900 federal loan borrowers on Guam who are eligible for the Biden Administration’s Student Debt Relief Plan. This month, the U.S. Department of Education is expected to make the application for debt relief available and begin contacting eligible borrowers directly.
“This is welcome news for thousands of Guam’s higher education students and graduates who will receive life-changing relief, including 4,500 island residents who are eligible for $20,000 in debt relief and 3,300 who will have their federal student loans completely forgiven,” said Acting Governor Josh Tenorio. “Our Administration has prioritized education by maintaining open schools, pushing for academic recovery, and expanding mental health support for students and educators. We will continue to work closely with the U.S. Department of Education to support the delivery of student debt relief, which strengthens our recovery through this pandemic.”
In August, the Biden Administration announced its plan to cancel up to $20,000 in student debt per eligible borrower. The Student Debt Relief Plan is designed to help borrowers and families continue to recover from the pandemic and prepare to resume student loan payments in January 2023. Nearly 90 percent of relief dollars will go to those earning less than $75,000 per year.
“Student debt relief will not only impact the lives of borrowers, but their families and communities as well,” Acting Governor Tenorio added. “It will give people more breathing room, help renters pursue the dream of homeownership, empower parents saddled with debt to provide a better life for their children, and build on our efforts to support our middle class.”
More information on the Student Debt Relief Plan is available at studentaid.gov/debtrelief.