Targeted student loan cancellation was Biden’s focus – here’s why


This was President Joe Biden’s approach to student loan cancellation.

Here’s what you need to know – and what does it mean for your student loans

Student loans

Becoming president in January Biden Cancels $ 3 Billion Student Loans… Biden has focused on targeted student loan cancellation, which means that Biden has canceled the student loan for certain groups that have a specific and indefinable reason for canceling the student loan. In some cases, these student loan borrowers received a full cancellation of the student loan and in other cases, a partial cancellation of the student loan. For example:

  1. Biden canceled $ 500 million student loan debt for 18,000 student loan borrowers under the protection of the borrower in accordance with the student loan repayment rule.
  2. Biden canceled $ 1 billion student loans for 72,000 student loan borrowers.
  3. Biden canceled another $ 1.3 billion in student loans for 41,000 borrowers with full and permanent disabilities.
  4. Biden granted student loan exemptions to 1.1 million student loan borrowers who defaulted on their FFELP loan.

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

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