FIVE OPPORTUNITIES TO GET MORE FUNDS WITH BIDEN’S TWO RELIEF BILLS (PART 2)
Federal student loan borrowers might be able to save if not entirely get their debts forgiven – if Congress approves.
Student debt grew by more than 100% in the last decade, reaching $1.7 trillion at the end of 2020.
Biden has voiced support for forgiving $10,000 in graduate or undergraduate student debt since his presidential campaign.
The pause on student loan payments was extended three times during the Pandemic, first by Former President Trump and then by Biden in an executive order signed in January.
Democratic Senators Elizabeth Warren and Chuck Schumer have both called for student loan forgiveness of five times that amount.
At a town hall in February, Biden rejected the Senators’ proposed increase, saying, “I’m prepared to write off $10,000 debt, but not 50.”