What's a Pell grant? How it affects student loan forgiveness

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Lynn Hunt, who took out between $45,000 and $50,000 in student loans and was a Pell Grant recipient, uses colored pencil to fill in a sketch at Hunt's home in Beaverton, Ore. on Wednesday, Aug. 24, 2022. Hunt says President Biden's student loan forgiveness plan isn't enough to help because Hunt owes about $70,000 due to a 6.7% interest rate on the loans. Hunt says the temporary moratorium on loan repayment during the COVID-19 pandemic allowed Hunt to stop working 80-hour weeks and to return to artistic hobbies. (AP Photo/Gillian Flaccus)