Student Loan Forgiveness Of $50,000 Gets Renewed Push : Joe Biden

Here’s what you need to know — and what it means for student loans.

As President Joe Biden considers student loan forgiveness for millions of student loan borrowers

a new report sent to Sen.

Elizabeth Warren (D-MA) shows how $50,000 of student loan forgiveness could yield significant benefits.

$50,000 of student loan forgiveness: 30 million borrowers would have no student loan debt.

$40,000 of student loan forgiveness: 28 million borrowers would have no student loan debt.

$30,000 of student loan forgiveness: 24 million borrowers would have no student loan debt.

$20,000 of student loan forgiveness: 20 million borrowers would have no student loan debt.

$10,000 of student loan forgiveness: 13 million borrowers would have no student loan debt.

Warren and Senate Majority Leader Chuck Schumer (D-NY), who both have championed up to $50,000 of student loan forgiveness

are still pushing Biden to cancel that amount of student loan debt for millions of student loan borrowers.