Biden to cancel up to $10,000 in student loans for most borrowers

 From the Washington Post:

President Biden said Wednesday he will cancel up to $10,000 in federal student loan debt for many borrowers — and double that amount for Pell Grant recipients — a move that could offer some level of forgiveness for up to 43 million people.

The forgiveness is expected to apply to Americans earning under $125,000 per year, or $250,000 per year for married couples who file taxes jointly. The White House estimates that nearly 90 percent of relief will go to people earning less than $75,000 and that roughly 20 million borrowers could have their debt completely canceled.