© Meg Potter/Sun-News / USA TODAY NETWORK
Syndication: Las Cruces Sun-News
WASHINGTON (AP) — Millions of Americans are waiting to learn the fate of their federal student debt as President Joe Biden prepares to deliver on his campaign promise to provide up to $10,000 in debt cancellation.
Details of the plan have been kept closely guarded. But borrowers who earn less than $125,000 a year would be eligible for the loan forgiveness.
That’s according to three people familiar with the decision, expected to be announced Wednesday. Biden is also set to extend a pause on federal student loan payments through January.
Legal challenges are almost certain to come.
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