"The Biden administration announced Friday that 804,000 borrowers will have their student debt wiped away , totaling $39 billion worth of debt, in the coming weeks..." reports CNN.That's an average of $48,507 per borrower, each of whom has "been paying down their debts for 20 years or more and should qualify for relief," according to a statement from the administration Last month the administration described student debt relief as "good for the economy... [G]ood for the country."

Source: CNN July 15, 2023 15:51 UTC