President Joe Biden announced on Wednesday that he will forgive up to $10,000 in student debt for most borrowers and up to $20,000 for Pell Grant recipients.

The move represents relief for millions of Americans who qualify, including single people who earn less than $125,000 and married couples and heads of household who make less than $250,000. The President also extended the moratorium on student loan interest payments "one final time" through the end of the year.

The relief package seeks to "address the financial harms of the pandemic for low- and middle-income borrowers and avoid defaults as loan repayment restarts next year," a White House statement reads.

By setting the income maximums at $125,000 and $250,000, the administration says the package excludes "high-income" individuals and households, which it defines as those in the top 5% of incomes in the U.S.

Some critics of the plan, however, wonder if households pulling in $125,000 or $250,000 can really be considered "middle-class."

It depends on who you ask.

Pew Research defines "middle class" as those earning between two-thirds and twice the median American household income, which, as of 2020, stood at $67,521, according to the U.S. Census Bureau. That caps the middle class at about $135,000 per household, which contains 2.5 people, on average.

The Brookings Institute considers anyone who falls within the middle three quintiles of income distribution to be middle class.

And the Urban Institute defines middle class households as those earning between 150% and 500% of the federal poverty level.

It also depends on who you are. To fully determine where you fall on the economic spectrum, you must consider where you live and the size of your household. After all, $125,000 means one thing for a single person living in Little Rock, Arkansas, and quite another for a parent of three children in New York City.  

The calculator below takes those factors into account. Enter in your annual income, household size and nearest metropolitan area to determine if you're middle class by three different definitions, based on national and metro-area incomes. The tool uses your income adjusted for a household size of three, since the average American household contains 2.5 people.

Play around with the calculator, and you'll discover that, adjusted for household size, a single person making $125,000 earns too much to qualify for America's middle class.

But depending on their location, they might be under the line by some definitions. And the more people you add to the household, the more firmly middle class someone in that salary range becomes, no matter their hometown.

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