Beware of these 5 myths about student debt cancellation.

Here is what you need to know.

Student loans

There is a lot of misinformation about student loan cancellation – who gets it, how much, and when. Make sure you know how to tell the truth from fiction. You don’t believe these 5 myths about student loan cancellation:

1. All student loans will be forgiven

fairy tale “Cancel student loans” means all student loans have been canceled, or all student loans will be forgiven.

  • Senator Bernie Sanders (I-VT) proposed repealing all student loans, including $ 1.7 trillion in private and federal student loans.
  • However, this idea has no major support from President Joe Biden or members of Congress.
  • Not all student loans will be forgiven. For example, observe restrictions on income requirements, e.g.
  • Senate Majority Choke Schumer (D-New) and Senator Elizabeth Warren (DMA) have proposed canceling student loans for student loans. Annual income up to $ 125,000. If they receive more than this, they will not be forgiven for any student loans as planned.