The odds of student loan borrowers getting their balances reduced or eliminated have never been greater, according to higher education expert Mark Kantrowitz.
, the U.S.
Biden has vowed to cancel some of the loans and there are reports that the administration is considering a plan of wiping out $10,000 per borrower. In addition,Even so, Kantrowitz said,"until legislation is signed into law, you can't count on anything."In other words, you'll want to hold off on celebrating just yet, and crossing student loans off your budget.
Canceling $10,000 in student debt for all would cost the federal government $321 billion, and clear the balances entirely for close to
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