Finical advisers say President Joe Biden’s plan to provide at least $10,000 in debt cancellation for millions of Americans could have a positive impact on your credit score. Borrowers who earn less than $125,000 a year, or families earning less than $250,000, would be eligible for the $10,000 loan forgiveness. Recipients of the Pell Grant, which is given to students applying for undergraduate degrees experiencing financial hardship, would be eligible for another $10,000.
