Biden announces long-awaited student debt forgiveness plan

President Joe Biden (Susan Walsh/AP)

President Joe Biden has announced his long-awaited plan to deliver on his campaign promise to provide 10,000 dollars (£8,500) in debt cancellation for millions of Americans.

Borrowers who earn less than 125,000 dollars a year, or families earning less than 250,000 dollars, would be eligible for the 10,000 dollars loan forgiveness, Mr Biden announced in a tweet.