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Bloomberg Equality: Who Benefits from Cancelled Student Loans?

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Americans owe some $1.7 trillion in student debt, a financial albatross that Biden is eager to slay. This week he called on the legislature to immediately forgive $10,000 for borrowers; he could cancel $50,000 by executive order when he takes office in January, according to Senate Minority Leader Chuck Schumer. “Student loan forgiveness is good, actually,” New York Representative Alexandria Ocasio-Cortez posted in a tweet that gathered more than 454,000 likes.