Biden Has Forgiven $9.5 Billion in Student Debt. What About the Other $1.6 Trillion?
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On the campaign trail, President Joe Biden pledged that he would make student loan forgiveness a top focus as president. So far, however, none of his broader proposals to reduce some of the $1.6 trillion in federal debt have come to fruition.
But Biden didn’t completely neglect his promise; his administration has discharged nearly $10 billion in student loan debt since January. That's more than either of the previous two administrations canceled in their first year in office.
Here’s a closer look at who’s benefited from student loan forgiveness so far this year, and the likelihood of a widespread student loan cancellation initiative.
Who has qualified for student loan forgiveness so far?
