Biden Canceled $ 8.7 Billion Student Loan But Here’s What That Means For Large-Scale Student Loan Cancellation



Biden canceled $ 8.7 billion in student loans, but here’s what that means for widespread student loan cancellations.

Here’s what you need to know.

Student loans

After becoming president, Biden canceled nearly $ 9 billion in student loans through targeted student loan cancellation, which is a student loan forgiveness for certain groups of student loan borrowers. For example, after becoming president in January, Biden:


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