As Joe Biden prepares to provide millions of Americans with $10,000 in debt relief, federal student loan holders endure uncertainty.

Detail of the plan for loan forgiveness for student borrowers with low incomes(less than $125,000 a year) have been withheld, and only three people could confirm that. 

There will also be a delay on federal student loan payments, which will last until January.

More than 43 million people are in debt to a combined $1.6 trillion federal student debt, with 31% due less than $10,000.

 Joe Biden's plan could offer this group a windfall before the midterm elections.

Joe Biden was skeptical of student loan debt cancellations during his 2020 presidential campaign.

 Instead, opponents like Elizabeth Warren and Bernie Sanders proposed canceling more significant amounts.

Biden plans to reduce student debt by up to $10,000.

Heads of the Student Aid Administration have discussed that in the event of a presidential campaign, officials would forgive more than $10,000 of student debt.