After months of anticipation, the Biden administration has announced it intends to cancel $10,000 of federal student debt for individuals who earn less than $125,000 a year ($250,000 for a couple filing taxes jointly) and up to $20,000 for low-income borrowers who received Pell grants. It will also extend the student loan payment pause implemented at the beginning of the pandemic to Dec. 31. Thousands of AFT members, and millions of Americans, will be affected.
