We explain where US President Biden's expected $10,000 student loan debt cancellation falls with Americans on either side of the political aisle and why the number might not be bigger
Biden's plan would likely eliminate student debt entirely for millions of Americans and wipe away at least half for millions more.
The precise details of Biden's plan, which will include an income cap limiting the forgiveness to only those earning less than $125,000 a year, were being kept to an unusually small circle within the Biden administration and were still not finalised on the eve of the announcement. Biden has faced pressure from liberals to provide broader relief to hard-hit borrowers, and from moderates and Republicans questioning the fairness of any widespread forgiveness.
The continuation of the pandemic-era payment freeze comes just days before millions of Americans were set to find out when their next student loan bills will be due. This is the closest the administration has come to hitting the end of the payment freeze extension, with the current pause set to end on August 31.
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