US President Joe Biden said on Wednesday his administration would forgive student loan debt for many borrowers and would extend a pause on student loan repayments until Dec. 31 of this year.
He said on Twitter his administration would forgive $20,000 in student loan debt for those who went to college on Pell Grants.
It would forgive $10,000 for those who did not receive Pell Grants.
The plan applies to those who earn less than $125,000 a year.
Biden said he would deliver remarks on the plan at 2:15pm.
Reuters/NAN.
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