If there is $50,000 of student loan cancellation, 36 million people wouldn’t owe any federal student loan debt. That’s the message that Sen. Elizabeth Warren (D-MA) wants you to know. At a townhall meeting Thursday, Warren said Biden must cancel student loans “immediately” and provide permanent total relief.”
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. Based on the total amount of federal student loan forgiveness, this many student loan borrowers would get complete student loan cancellation:
student loan borrowers who earn up to $125,000 annually. Those requirements could change, but in any event, it’s unlikely that 36 million student loan borrowers would get student loan cancellation.
With student loan relief ending, there’s no guarantee that there will be any wide-scale student loan cancellation. So, spend time evaluating your best options to pay off student loans. Here are a few:
