Posted in Web Biden Has Cancelled $8.7 Billion Of Student Loans, But … October 4, 2021 So, critics say that Biden has cancelled student loans for 1% of student loan borrowers. Based on $8.7 billion of student loan cancellation, that represents 0.5% of student loans outstanding. https://www.forbes.com/sites/zackfriedman/2021/08/20/biden-has-cancelled-87-billion-of-student-loans-but-heres-what-it-means-for-wide-scale-student-loan-cancellation/