5 reasons why Biden may not cancel student loans.
Student LoansBiden is actively considering whether to cancel student loans for millions of student loan borrowers. Student loan forgiveness is wealth redistributionOpponents of wide-scale student loan forgiveness say it’s classic wealth distribution. If all student loan borrowers get student loan relief, it’s possible that wealthier student loan borrowers such as doctors and lawyers could benefit disproportionately. For example, Biden could limit student loan forgiveness to federal student loans only or college student loans only. Student loans: next stepsBiden potentially could cancel student loans for millions of student loan borrowers.