President Joe Biden cancels $10000 on student loans

President Joe Biden will announce a $10000 cancelation on student loans

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The borrowers who can avail for this should fall below the income cap

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Everyone was waiting for this decision from a long period of time

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It is also said that the act can extend till January but this is not confirmed yet

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Also Biden said they will make a decision on it till August 31

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Biden is even pressured to cancel a big share debt for Americans who applied for federal loans to pay for college

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The borrowers seeking to get there loan canceled should have a family income of less than $125,000

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It is being said that 40 million people will benefit from this scheme

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