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By Ben Zeisloft, DailyWire, Aug 24, 2022

President Joe Biden unveiled a plan on Wednesday to cancel $10,000 in student loans per borrower earning under $125,000, as well as $20,000 per borrower who paid for college using Pell Grants.

White House officials had been weighing the move for months before officially landing on the $10,000 figure, according to a report from CNN, though some Democratic lawmakers have supported canceling up to $50,000 per borrower. Biden also decided to extend the pause on federal student loan repayment to January 2023, while borrowers with undergraduate loans can cap repayment at 5% of monthly income. …

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