About 15 million borrowers could see their student loan balances erased, as President Biden is expected to announce a student debt forgiveness plan on Wednesday.
By Adam Barnes and Shirin Ali, The Hill
President Biden is expected to cancel up to $10,000 in student loan debt per federal borrower earning less than $125,000 annually on Wednesday, holding true to a campaign promise and relieving millions of their student debt burdens.

If the president’s plan moves forward, he could potentially eliminate loan balances for around 15 million people, which accounts for about one-third of all U.S. student loan borrowers. These Americans will see their monthly payments go away and the U.S. will simultaneously lower its $1.7 trillion outstanding student loan balance.
The decision will still leave 30 million borrowers on the hook for the remainder of their balances, some potentially seeing little movement in their monthly payments when the moratorium reaches its expected end.
That’s because data shows the average student borrower owes more than $37,000 to be paid off over 20 years.
Recent Posts
New Poll: Democratic Socialism Is Now Mainstream
September 17, 2025
Take Action Now A national poll from Jacobin, DSA Fund, and Data for Progress finds broad support for democratic socialist leaders and left-wing…
Gerrymandering & The War On Democracy
September 17, 2025
Take Action Now It’s one piece of a much larger democratic breakdown.By RJ Eskow, The Zero Hour Report A few days before the Charlie Kirk…
What Happened To Silverio Villegas González
September 17, 2025
Take Action Now Immigration agents shot and killed an unarmed 38-year-old father outside Chicago on Friday—and their initial narrative of events was…
Talk World Radio: Sam Rosenthal On The Occupation Of DC And What’s The Matter With Democrats
September 16, 2025
Take Action Now War, peace, and politics with RootsAction’s Political Director Sam RosenthalBy David Swanson and Sam Rosenthal, Talk World Radio…