made earlier this week by Senate Majority Leader Chuck Schumer that Biden was seriously considering cancelling $50,000 or more in student loan debt.
Biden did not specify an exact amount of student loan forgiveness that he is considering, although clearly it would be under $50,000. He also did not address rumors that he is considering“I am in the process of considering whether there will be additional debt forgiveness, and I’ll have an answer on that in the next couple of weeks,” he said.
Biden has consistently said he would support $10,000 in student loan forgiveness for borrowers. This would completely eliminate the student debt for nearly 9 million people — roughly one in five borrowers, the Center for American Progress. Cancelling $40,000 in student debt for every borrower would completely wipe out the student loan debt for 35 million people, representing nearly four in five borrowers.While Biden clearly indicated that some form of broad student debt cancellation is on the table, he also noted that his administration has already implemented billions of student loan forgiveness for hundreds of thousands of borrowers.
Thank you！
Why should I be responsible for someone else's education