Market
New student loan forgiveness legislation by mid-2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
U.S. Congressional records or official government announcements
Story
Biden Cancels $4.28 Billion in Student Loans for 55,000 Public Servants Before Leaving Office
Dec 20, 2024, 02:09 PM
President Joe Biden has announced the cancellation of $4.28 billion in federal student loan debt for nearly 55,000 public service workers, including teachers, nurses, service members, and law enforcement officials. This action represents the final round of debt forgiveness under his administration before leaving office. The relief is provided through the Public Service Loan Forgiveness program, which was created by Congress in 2007 and expanded by the Biden administration to forgive student loans for eligible borrowers who have worked in government or nonprofit jobs for at least ten years. With this latest round, total forgiveness for public service workers reaches $78 billion. Overall, the Biden administration has canceled $180 billion in federal student loans through existing programs, benefiting nearly 5 million borrowers, including over 1 million public servants. President Biden stated, "Now, they are finally earning the relief they are entitled to under the law."
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Less than $200 billion • 25%
More than $300 billion • 25%
$250 billion to $300 billion • 25%
$200 billion to $250 billion • 25%
No • 50%
Yes • 50%
Biden Administration • 25%
Neither • 25%
Both Equally • 25%
Next Administration • 25%
No • 50%
Yes • 50%
Borrowers in specific professions • 25%
Borrowers with loans from specific schools • 25%
Other • 25%
Borrowers with private loans • 25%
More than 300,000 • 25%
Less than 100,000 • 25%
200,001 to 300,000 • 25%
100,000 to 200,000 • 25%
Less than $200 billion • 25%
$250 billion to $300 billion • 25%
$200 billion to $250 billion • 25%
More than $300 billion • 25%
Other • 25%
Interest Rate Reduction • 25%
Repayment Plan Overhaul • 25%
Further Loan Forgiveness • 25%