$10,000 student loan forgiveness: How many Alabama residents would have their student loan debt forgiven?

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According to a new analysis, more than 31% of Alabama residents who have federal student loans would have that debt forgiven if the Biden administration moves forward with the $10,000 loan forgiveness.

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20% of borrowers would have their amounts reduced by at least half, and 1 in 3 borrowers overall may have all of their federal student loans forgiven.

The $10,000 forgiveness plan would cost $326.4 billion nationally.

highest percentage?

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According to the analysis, 31.5% of Alabamians with federal student loans – or approximately 187,397 people – would have their debt forgiven if the Biden plan is implemented.

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$10,000 student loan forgiveness: How many Alabama residents would have their student loan debt forgiven?

According to a new analysis, more than 31% of Alabama residents who have federal student loans would have that debt forgiven if the Biden administration moves forward with the $10,000 loan forgiveness.

20% of borrowers would have their amounts reduced by at least half, and 1 in 3 borrowers overall may have all of their federal student loans forgiven.

The $10,000 forgiveness plan would cost $326.4 billion nationally.

highest percentage?

Wyoming had the highest percentage, with 38% saying they would pay off all of their federal student loans, followed by Nevada (36.6%) and Utah (36.4%).

According to the analysis, 31.5% of Alabamians with federal student loans – or approximately 187,397 people – would have their debt forgiven if the Biden plan is implemented.

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