Biden, who has cancelled $17 billion in student debts, advocates student loan forgiveness of up to $10,000!

 Student Loans Forgiveness

Last year, Biden opposed the cancellation of all student loans, even if it is just $50,000.

As per the news agency, if President decides to erase student loans, it will most certainly happen before the November.

Progressive Democrats in Congress and student debt relief supporters have been lobbying President to extend the student loan payment for a few months.

Since Biden took office, the education dept has forgiven almost $17 billion in student loan debt for over 725,000 borrowers.

The recent letter-writing campaign- #PensForBiden fuelled the matter and compelled the White House

This week, there have been signs that the White House is softening to the idea of a broad cancellation.

Under the TPD program, the students will get full forgiveness of their federal student loans, including Direct Loan Program loans and Federal Family Education Loans (FFEL)

According Federal Reserve Bank study, forgiving $10,000 per borrower would require the government to write off $321 billion in loans.

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