President Joe Biden has announced his long-awaited plan to deliver on his campaign promise to provide $10,000 in student debt cancellation for millions of Americans - and up to $10,000 more for those with the greatest financial need

The announcement came on the same day freshmen moved in at Montclair State University. Some of the new students tell News 12 New Jersey that the student debt relief is a huge weight off their shoulders, while others say that it only scratches the surface of the expensive cost of college.

"Even coming to school this year as a freshman, I'm already kind of worried about graduating and finances and debt and things like that after school, so it's good to find out now,” says freshman Madison Allen.

Biden’s plan will likely eliminate student debt entirely for millions of Americans, and wipe away at least half of the debt for millions more.

Some of the students say that this new plan could open doors for others to seek higher education.

"I think for students, accessibility is so important. Especially now, with people my age,” Allen says. “It's been a big debate of a lot of my friends about whether they want to go to school because of finances. So, I think with this news coming out, it's really great."

Some say that the relief is going to revolutionize their college experience, giving them more freedom and less to worry about.

“It will make my college loan experience a little better and less stressful,” says freshman Ezechiel Collin.

But some are saying that the plan does not go far enough.

"I feel like a little bit more would help more people. Like, I feel like some people, most people, have more than that, honestly. So, I feel like, yes it will help but at the same time it should be more,” says freshman Raven Scotland.

Classes at Montclair State begin next Friday.

The Associated Press wire services contributed to this report.