President Joe Biden is expected to announce his administration’s much-anticipated decision on student loan cancellation on Wednesday, NBC News and Bloomberg reported.
For several months Biden has been looking at forgiving $10,000 per borrower in student debt, capping the cancellation for borrowers whose income exceeds $125,000 to $150,000 a year.
Biden’s administration already cancelled $32 billion in total debt by targeting relief to institutions that had predatory or misleading practices.
