Biden unveils plan to cancel $10,000 in student loan debt for millions
by Chris Stein in Washington, Lauren Aratani in New Y from US news | The Guardian on (#62VF8)
President delivers on campaign promise and outlines debt relief measures for those on lower incomes in White House speech
Millions of Americans received welcome news on Wednesday when Joe Biden delivered on a campaign promise to provide $10,000 in student debt forgiveness.
Borrowers who earn less than $125,000 a year will be eligible for loan forgiveness, with those whose low incomes qualified them for federal Pell Grants receiving up to $20,000 in relief. About a third of US undergraduate students receive Pell Grants.
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