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How much student loan debt has been canceled?

Nearly $42 billion of federal student loan debt has been canceled for almost 855,000 borrowers enrolled in income-driven repayment plans – largely due to the Biden administration’s effort to recount borrowers’ past payments and fix what officials have called “past administrative failures.”

Will Biden extinguish $20,000 in student loan debt?

Shuran Huang for The New York Times The Supreme Court has barred the Biden administration from carrying out its plan to extinguish up to $20,000 in federal student loan debt, and millions of borrowers will continue to struggle under the weight of their loans.

Did Biden cancel student loan debt?

The Biden administration has canceled $22.5 billion of student loan debt for more than 1.3 million borrowers through an existing program known as borrower defense to repayment, which delivers student debt relief to people who were defrauded by their college.

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