Will your student loans get cancelled?
) While at least 550,000 student loan borrowers will get student loan forgiveness sooner, what does this mean for wide-scale student loan forgiveness? The answer::The major changes to public service loan forgiveness will cancel at least $4.5 billion of student loans. The latest student loan cancellation is another example of targeted student loan cancellation .
Since Biden doesn’t believe that he has the legal authority to enact wide-scale student loan cancellation for every student loan borrower, Biden has opted for fixing student loan forgiveness over simply cancelling all student loan debt. Importantly, “student loan cancellation” and “fixing student loans” are not necessarily compatible. You can think of it this way: The good news is that Biden wants to fix your student loans and student loan forgiveness.
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