Here's who could benefit if Biden cancels $10,000 in student loan debt per borrower
CNN
Relief could be coming for those with student debt who earn less than $125,000 a year if President Joe Biden takes new action. But only about 19% of households that have total incomes below that threshold have student loan debt, per one estimate.
Biden has indicated that if he does take action to provide more student loan debt forgiveness, he may limit the relief to $10,000 per person, as well as exclude wealthier borrowers.
His administration has already canceled more than $17 billion of the $1.6 trillion in outstanding federal student debt by expanding existing forgiveness programs for public-sector workers and borrowers who were defrauded by for-profit colleges. In addition, he's extended the pandemic-related pause on student loan payments four times, most recently moving the expiration date from May 1 to August 31.
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