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Biden expected to announce $10,000 student loan cancellation

01:09

President Joe Biden is expected to announce a decision to forgive $10,000 per person in student loan debt Wednesday. NBC’s Kristen Welker reports for TODAY from the White House on who qualifies and when it could go into effect.

Biden to cancel up to $10k in federal student loan debt for certain borrowers and up to $20k for Pell Grant recipients