General World News

Biden could wipe out 84% of the federal student-debt pile by canceling $50,000 per person

student loans graduate

Summary List Placement

Democratic lawmakers are continuing to push for President Joe Biden to cancel $50,000 in student debt per person, and new data from the Department of Education (DOE) may have just helped them make their case to the president.

A DOE analysis obtained by Yahoo Finance on Monday found that $50,000 in student loan forgiveness per person would erase the entire debt for 36 million — or 84% — of the roughly 43 million borrowers in the US with federal loans, while $10,000 in forgiveness would erase the entire debt for 15 million — or 35% details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com