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Why can student debt still be written off?

There was speculation that President Biden could confirm a large-scale student debt forgiveness program this weekend – but even if he did not make such an announcement, Forbes finance specialist Zack Friedman still believes it may come.

In a piece published on Sunday, Friedman offers five reasons why cancellation of heavy student loans can still become a realityincluding the benefits it would bring to the US economy.

“If Biden cancels $ 50,000 in student loan debt, it could also help financially vulnerable student loan borrowers who want a fresh start on their student loans or who are more likely to default on student loans when student loan payments start again,”[ads1]; Friedman writes.

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