(IOCI RADIO) – The Illinois Student Assistance Commission (ISAC) said President Biden’s student loan debt plan could be fairly significant for borrowers in the state.

More than 1.5 million Illinois borrowers hold over $57 billion in direct student loans, so the debt relief plan could have a serious impact.

ISAC Spokesperson Lynne Baker said she runs the numbers, but stressed that they don’t know how many borrowers meet the income eligibility guidelines.

Baker said 31% of Illinois borrowers, assuming they are under the income limit, would see their debt completely erased.