Yes, 36 million people would have no more student loans.
How many student loan borrowers in student loan default would get complete student loan cancellation?
According to the latest student loan debt statistics, approximately 11 millions student loan borrowers are in student loan default, student loan delinquency or student loan forbearance.
What does this mean for your student loans? While there is a major proposal to cancel $50,000 of student loans, Congress hasn’t passed any legislation. . At the same time, Biden has called on Congress to cancel $10,000 of student loans for student loan borrowers. However, Biden has said he doesn’t believe he has executive authority to cancel student loans unilaterally without further authorization from Congress.
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