Biden will announce forgiving $10000 student loan debt for borrowers who are under an income cap.

The president will unleash his life long-awaited decision after his return from Vacation.

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However, The White House would not confirm the announcement as of now.

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President Biden said that he would announce the decision by August 31.

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The president has already faced increasing pressure, especially from progressive Democrats.

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The pressure was made in order to cancel a larger share of debt for Americans who applied for federal loans for college fees.

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It is expected that debt cancellation for borrowers with incomes of $125,000 or less.

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