Who benefited from the cancellation of $167 billion in student loans?

The video discusses various student debt relief programs, including borrower defense, closed school discharge, and Public Service Loan Forgiveness. It highlights the positive impact of these programs on borrowers, particularly those from lower-income backgrounds and racial minorities. The Biden administration's efforts, including a new plan to eliminate accrued interest and introduce the Save repayment plan, are also covered. The video concludes with a note on the evolving nature of debt relief programs and the potential changes if political leadership shifts.

Which type of loan relief is available for students whose schools misled or defrauded them?

• Closed School Discharge

• Borrower Defense to Repayment

• Income-Driven Repayment Plan

• Public Service Loan Forgiveness

What demographic is most likely to benefit from student loan cancellations?

• High-income earners

• Middle-aged borrowers

• Lower-income and minority borrowers

• Retired individuals

How does loan cancellation affect a borrower's likelihood of home ownership?

• Decreases by 5%

• Increases by 5%

• No effect

• Decreases by 10%

What was one of Biden's proposals for student loan relief after the Supreme Court struck down his initial plan?

• Increase interest rates for all borrowers

• Eliminate accrued interest for 23 million borrowers

• Cancel all student debt for everyone

• Provide tax incentives for loan repayment

What should borrowers do to stay informed about changes in student loan relief programs?

• Regularly check sites like Student Aid Gov

• Rely on social media updates

• Ignore changes until contacted directly

• Wait for official letters from lenders