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It must be an annual salary of $125,000 or less.

Now, he is also expected to extend the payment pause for several more months.

But the White House has insisted that no final decision has been made yet.

A White House spokesperson saying that the administration has already canceled

around 32 billion in debt for more than 1.6 million Americans,

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adding that that is more than any other administration in history.

The anticipated announcement comes as Mr.

Biden is facing criticism from student debt relief advocates over his lengthy

decision making process, leaving millions of borrowers in limbo over whether they

would need to resume payments at the end of this month.

Now, roughly 45 million Americans have student loan debt and

the Federal Reserve estimates that as of the second quarter of this year,

it totals to more than $1.7 trillion.

And according to a Democrat familiar with the matter,

Senate Majority Leader Chuck Schumer spoke with the President over the phone Tuesday

to make a final push to the President to cancel as much student loan debt as he can.

So while it does appear that Mr. Biden will follow through on his campaign promise

to address student loan debt, so far it falls short of the $50,000

...

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