Today, President Biden announced that he would cancel $10,000 per student borrower making under $125k per year and extend the due date for payment to the end of the year due to COVID setbacks. Will Sealy, the co-founder and CEO of financial planner Summer, and a student loan policy expert joined Cheddar News to break down today’s announcement. "This is more debt that's going to be canceled than any other initiative the president has taken in this administration or previous administrations," he noted.