Why Biden Has Focused On This Student Loan Cancellation

Why Biden Has Focused On This Student Loan Cancellation

This has been President Joe Biden’s strategy to student loan cancellation.

Here’s what you might want to know — and what it means on your student loans.

Student Loans

Since changing into president in January, Biden has cancelled $3 billion in student loans. Biden has been targeted on focused student loan cancellation, which implies that Biden has cancelled student loans for sure constituent teams which have a selected and indentifiable motive to get student loan cancellation. In some circumstances, these student loan debtors received full student loan cancellation, and in different circumstances they received partial student loan cancellation. For instance:

  1. Biden cancelled $500 million of student loan debt for 18,000 student loan debtors below the borrower protection to student loan reimbursement rule.
  2. Biden cancelled $1 billion of student loans for 72,000 student loan debtors.
  3. Biden cancelled one other $1.3 billion of student loans for 41,000 debtors with complete and everlasting incapacity.
  4. Biden granted student loan aid for 1.1 million student loan debtors who defaulted on their FFELP Loans.

Here are 3 the explanation why Biden has targeted on focused student loan cancellation:


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