What different amounts of student loan forgiveness would mean for borrowers
Phyllis Wintter has had student debt for more than 30 years. At 67, she still owes around $48,000.Now she hopes that change could be coming, and that President Joe Biden will forgive her loans."It would be great if we could die free of this debt," said Wintter, who lives in Georgia.But, she added, "$10,000 wouldn't do it. I'd still have $38,000, and I can't afford that."More from Personal Finance:
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Under Biden, free college could become a realityThe odds of student debt forgiveness becoming a reality have never been greater. President Joe Biden said on the campaign trail that he's in support of cancelling $10,000 per borrower, and now he's asked his education secretary to prepare a report on his legal authority to wipe out as much as $50,000 for all.