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Feathercrown , 2 hours ago Because I’m bored though, I’ll humor you. Total direct loan forgiveness (not counting repayment pauses during covid or other relief measures): $167 billion Total US outstanding student loan debt: $1.77 trillion Total US outstanding student loan borrowers: 42.8 million Average student loan debt per outstanding borrower: ~$40k (same source as above) Total percentage of debt cancelled: 167m/1770m = 9.4% Average debt relief per person: $3,900 (!) So yes, it’s paid for multiple months worth of rent, and relieved about 10% of everyone’s debt on average! Better than I expected.
Because I’m bored though, I’ll humor you.
Total direct loan forgiveness (not counting repayment pauses during covid or other relief measures): $167 billion
Total US outstanding student loan debt: $1.77 trillion
Total US outstanding student loan borrowers: 42.8 million
Average student loan debt per outstanding borrower: ~$40k (same source as above)
Total percentage of debt cancelled: 167m/1770m = 9.4%
Average debt relief per person: $3,900 (!)
So yes, it’s paid for multiple months worth of rent, and relieved about 10% of everyone’s debt on average! Better than I expected.