President Joe Biden’s student debt cancellation plan could end up providing millions of people with relief from monthly payments and be a vote winner ahead of the midterm elections — but it could also offer benefits disproportionately to those who are better off.

Biden said Thursday that he wasn’t considering canceling as much as $50,000 worth of debt per borrower — which would be a significant sum, well beyond what he campaigned on doing — although he said little else about the shape his student debt plan will take.