Biden cancels $10k in student debt
It finally happened! President Biden announced that $10,000 in federal student loan debt will be forgiven for borrowers who make less than $125,000 a year. And, the pause on student loan payments, for those who will still have debt to pay, has been extended through December. CNBC has everything you need to know about the announcement, including how it works, how it will affect your taxes and tips for what to do with the extra cash you’ll have now that you have $10,000 less in debt.