Joe Biden announces student debt relief plan

Joe Biden has announced a student debt relief plan which will cut thousands of dollars off federal loans taken out to pay for college education.

Those who make under $125,000 a year will have up to $10,000 knocked off their debt, with those who took out Pell grants relieved of up to $20,000.

Pell grants are a government initiative that was designed to support lower-income students.

Biden said that under the plan, nearly 45 per cent of federal student loan borrowers can have their debt fully cancelled, and “start getting on with their lives.”

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