President Joe Biden rolled out his plan to cancel up to $20,000 in student loan debt. Anyone who made under $125,000 during the pandemic is eligible for $10,000 in forgiveness. Borrowers who received Pell grants can get an additional $10,000 relieved.

President Donald Trump suspended student loan payments in 2020. While announcing his plan Wednesday, Biden extended Trump’s repayment pause through 2022.

Time reports some other details of Biden’s student loan plan.

Another feature of the loan relief plan is that it caps undergraduate loan payments to 5% of a borrower’s monthly income, as opposed to the previous 10% threshold.

Additionally, the plan forgives loan balances of $12,000 or less after 10 years of payments, instead of the current 20 years. It also fully covers the borrower’s unpaid monthly interest, so that unlike with current income-driven repayment plans, a borrower’s loan balance won’t grow as they are making their required monthly payments.

The White House claims Biden’s student loan action will eliminate debt for 20 million Americans. The White House fact sheet did not explain how Biden has the unilateral authority to cancel the loans.