Student Loan Forgiveness: How Much is Canceled, Who Qualifies, When Do I Apply?

Contributing sentiments towards policy:

57% : Student loans are the largest form of consumer debt outside of mortgages.
57% : The Department of Education also announced the administration will extend the pause on student loan repayments, set to expire Aug. 31, through the end of the year.
53% : The balance of student loan debt -- sitting at $1.75 trillion -- is the largest form of consumer debt outside of mortgages, according to the Federal Reserve Bank of New York, higher than both auto-loan and credit-card debt.
48% : Roughly a third (31%) of student loan borrowers will see their entire debt erased, according to the Fed, while the average borrower would receive $8,478 in student loan forgiveness.
41% : Read more: Student Loans Are Paused Again, but You Should Probably Keep Making Payments Anyway Loan repayments have been paused seven times since former President Donald Trump's administration first instituted a moratorium in March 2020.
37% : The Biden administration has scratched student loans for some borrowers already, including those in public service , those with total and permanent disabilities and former Corinthian Colleges students.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.