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Biden To Announce Student Loan Break

President Joe Biden

Expect President Biden to announce that he will cancel $10,000 in federal student loan debts. There has been pressure on the President to act on student loan debt, but this $10,000 forgiveness will not wipe the slate clean for most. The average balance is nearly 40 grand, which will only knock about $100 off the bill. Economist Tom Tunstall at UT-San Antonio says this will modestly affect the economy.