Biden cancels $10,000 in student loan debts

Biden cancels $10,000 in student loan debtsPublished6 minutes agoSharecloseShare pageCopy linkAbout sharingUS President Joe Biden will cancel up to $10,000 (£8,474) in federal student loans for millions of Americans who earn less than $125,000 each year. Mr Biden will also forgive $20,000 of debt for students on Pell Grants, which applies to those in greatest financial need.The president will provide the details of his plan at 1400 EST (1900 BST). An estimated 43 million Americans owe an estimated combined total of $1.6tn in federal student debt.Almost a third owe less than $10,000. This breaking news story is being updated and more details will be published shortly. Please refresh the page for the fullest version.You can receive Breaking News on a smartphone or tablet via the BBC News App. You can also follow @BBCBreaking on Twitter to get the latest alerts.