Reports are swirling that the White House is only weeks away from rolling out a plan to cancel some of the $1.6 trillion in student loan debt currently held by tens of millions of Americans across the country. Although President Biden has been vague about his commitment to use executive action to reduce federal student loan debt, the White House has said that the total debt forgiven for each borrower will be less than the $50,000 requested by Sens. Elizabeth Warren (D-Mass.) and Chuck Schumer (D-N.Y.). The Biden administration has also said there will be income limits on the program, capping eligibility at $150,000 or less in household income. Since news broke about the possibility
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