Student Loans

Will borrowers’ debts be forgiven?


The 45 million Americans who owe $1.7 trillion in college loans face uncertainty well into next year, as Congress and the White House wrangle over if, when and how borrowers will have to pay their debts. Payments for federal student loans — paused for nearly two years due to the COVID-19 pandemic — are set to resume on Feb. 1 after a “final extension” granted by the Biden administration. It is unclear whether President Biden will waive student debt more broadly through executive action and, if so, how much he might strike off borrowers’ tabs. The Department of Education is modifying various loan forgiveness programs to provide some debt relief to borrowers, while states and colleges also are providing aid.

locked icon

Sign in to access this content

Get a 30 day FREE TRIAL

  • Watch videos from a variety of sources bringing classroom topics to life
  • Read modern, diverse business cases
  • Explore hundreds of books and reference titles