America Responds To $ 1 Billion Student Loan Cancellation


President Joe Biden has just canceled $ 1 billion of it student grants– and that’s how America responded.

Here’s What You Should Know.

Student grants

Student loan cancellation is here, and the US Department of Education is just $ 1 billion in student loans canceled for 72,000 student loan borrowers. These student loan borrowers had previously canceled some student loans, but now get full student loan cancellation if they attend a school that engages in deceptive or illegal practices or has suddenly closed.

What do people think about this important decision to cancel student loans? Here’s a non-comprehensive, general cross-section of some of the social media feedback:

1. Biden cancels $ 1 billion in student loans – let’s celebrate

Many people on social media praised the decision to cancel $ 1 billion in student loans, saying it was an important step to tackle student loan cancellation. Student loan borrowers were hoping for financial relief, and they say Biden has kept his promise. Not only did Biden arrange for the cancellation of the student loan, but he did so in the first 100 days of his administration. Most importantly, this cancellation of the student loan is tax-free to student loan borrowers. The new stimulus package makes forgiveness of student loans tax-free until December 31, 2025.

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