President-elect Joe Biden expressed support for student debt forgiveness up to $10,000 at a press conference on Nov. 16 in Wilmington, Delaware. Joe Raedle/Getty Images
About 42 million Americans hold a total of $1.6 trillion in student loan debt. The hot-button issue of student loan cancelation, or forgiveness, has once again been top of mind after Sen. Chuck Schumer said in an interview that President-elect Joe Biden could wipe out the first $50,000 of federally-held debt with the pen as opposed to legislation in other words, with an executive order.
Schumer and Sen. Elizabeth Warren co-authored a resolution in September calling for the next president to do just that. The senators cited analysis from the Legal Services Center of H…
Read the full article at: https://www.marketplace.org/2020/11/23/would-canceling-10000-in-student-debt-really-help/
