What Student Loans Has President Biden Canceled?
By December 2020, the aggregate total of U.S. student debt saw a more than 100 percent increase over the previous decade. With the monetary value of the relief in the billions, here's how Biden has used his pen as a weapon against student debt. Biden inquired in April about his legal authority to cancel student debt. Technically, he can bypass Congress, but he runs the risk of ostracizing members whose support he needs on a range of other issues. There are also questions about how much debt Biden can cancel per student, so there's a lot of gray areas. Article continues below advertisement  Back when Senator Elizabeth Warren was running for president, legal experts chimed in on her goal of student loan debt relief. They said that such executive action is "lawful and permissible." The legality of presidential student loan debt relief gets simpler when we look at for-profit institutions that have defrauded students. Recently, 18,000 former students of the now-defunct ITT Technical Institute became eligible for loan relief due to the fraudulent atmosphere of the schools. This was a step that the U.S. Department of Education has been working toward in increments.