VERIFY: Yes, the recent student debt forgiveness change is just a tiny fraction of total student debt – WKYC.com

Last week, the Department of Education announced a change that waslargely summarized as the cancellation of $1 billion in student loan debt. The announcement garnered attention because of the Biden administrations past discussion of student debt forgiveness.

Butsome pointed out that the Department of Educations decision would only affect a small number of student borrowers and that it would barely dent a nationwide student debt total of more than $1.69 trillion.

Is the Biden administration canceling $1 billion in student loan debt and who would see that debt forgiveness?