This is what student loan forgiveness means.
that Congress created under the Cares Act, including multiple extensions under both Biden and President Donald Trump. Therefore, if there is no further wide-scale student loan forgiveness, the message could be that student loan borrowers have received significant student loan relief. It doesn’t mean that student loan borrowers still aren’t struggling, but the message from elected representatives to student loan borrowers is that federal subsidies from taxpayers may no longer be possible.
Biden wants to cancel $10,000 of student loans, but if he doesn’t have the legal authority, then Congress will need to act. Without broad support in Congress, student loan cancellation is deadlocked. Make sure you understand all your options for student loan repayment. Here are some popular options for student loans to save money:
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