President Biden’s student debt forgiveness plan announced on Wednesday will provide relief to many Pennsylvanians saddled with student loans, writes Mike D’Onofrio for the Axios.

The Biden administration is canceling up to $10,000 in student debt for individual borrowers who earn less than $125,000, as well as up to $20,000 for Pell Grant recipients. In addition, the White House is adding four months to the pause on repayments and implementing new policies around the student loan system. These include capping monthly payments at five percent of monthly income.

As of March, around 1.8 million Pa. residents have federal student loans; collectively, they owe more than $65 billion. Pennsylvania’s federal student loan debt average is $35,385, which is the 24th-highest in the country, according to the Education Data Initiative.

According to Kerry Smith, a lawyer with Community Legal Services, Biden’s plan would be transformative for many low-income individuals in the Phila. region who are struggling to repay their student debts.

“It will mean they have more money in their pockets to pay their rents, to buy food for their families, and be on a path to financial security,” she said.

Read more about the student debt forgiveness plan at Axios.