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How much more student debt will be canceled by the end of 2024?
5
Resolution / Starting Odds
No additional cancellation • 25%
$10 billion to $50 billion • 25%
$50 billion to $100 billion • 25%
Over $100 billion • 25%
U.S. Department of Education reports
Story
Biden Cancels $7.7 Billion in Student Debt for 160,000 Borrowers, Total Relief Reaches $167 Billion
May 22, 2024, 03:00 PM
President Joe Biden announced on Wednesday the cancellation of $7.7 billion in student debt for 160,000 borrowers. This latest round of debt forgiveness brings the total amount of student debt canceled by the Biden administration to $167 billion, benefiting nearly 5 million Americans. More than 1 in 10 Americans with federal student loans have received some measure of debt relief, averaging $35,000 per borrower. The relief includes $5.2 billion for 67,000 Public Service borrowers, $613 million for 54,000 SAVE Plan borrowers, and $1.9 billion for 39,000 income-driven repayment borrowers. Despite facing legal challenges from Republican states and criticism for shifting the burden to taxpayers, as well as a previous Supreme Court ruling against similar actions, the Biden administration continues to pursue measures to alleviate the student debt burden on households.
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Less than $200 billion • 25%
$200 billion to $250 billion • 25%
$250 billion to $300 billion • 25%
More than $300 billion • 25%
Less than $200 billion • 25%
$200 billion to $300 billion • 25%
$300 billion to $400 billion • 25%
More than $400 billion • 25%
Yes • 50%
No • 50%
Below 25% • 25%
25% to 50% • 25%
51% to 75% • 25%
Above 75% • 25%
Less than 500,000 borrowers • 25%
500,000 to 1 million borrowers • 25%
1 million to 1.5 million borrowers • 25%
More than 1.5 million borrowers • 25%
Yes • 50%
No • 50%
Continues • 50%
Discontinued • 50%
Below 40% • 25%
40% to 55% • 25%
55% to 70% • 25%
Above 70% • 25%
Significantly positive for Democrats • 25%
Moderately positive for Democrats • 25%
Neutral impact • 25%
Negative impact for Democrats • 25%
Increase • 33%
Decrease • 33%
Remain the same • 34%
