Total student loan debt in the U.S. stands at a staggering $1.75 trillion. This number has fueled political discussion in recent months, putting the pressure on leaders to alleviate the burden on the approximately 43 million borrowers in the country. So far, the Biden administration has canceled more than $15 billion in debt since taking office, but Biden’s more extensive campaign plans to cancel $10,000 in federal student loan debt per borrower have yet to come to fruition.
