About 44.7 million Americans have outstanding student loan debt, totaling over $1.86tn, with 42.3 million Americans holding federal student loan debt. Between rent, bills and daycare costs, Wilson went into default after not being able to keep up with student loan payments. Before the pandemic, more than half of all student loan borrowers were either in default, forbearance, deferment, or otherwise not making payments on their student debt. PJ Rivera of Texas is one of the borrowers not prepared to resume student loan payments. Joe Biden campaigned on cancelling $10,000 in student loan debt per person and cancelling student debt for Americans who attended Historically Black Colleges and Universities and public colleges, but the Biden administration has yet to cancel debt for these Americans.

Source: The Guardian December 10, 2021 04:47 UTC