WBOY, WOWK, MSN – President Joe Biden announced on Wednesday that $10,000 in student debt will be canceled for Americans who make less than $125,000 annually, leaving a large percentage of West Virginia students debt free.
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According to the West Virginia Center on Budget and Policy, a third of student loan borrowers in West Virginia had less than $10,000 of student loans, meaning that almost 74,000 will be completely student debt free after the cancellation.
According to data from 2021, 75% of West Virginia’s 223,000 borrowers owe less than $40,000. So after the largest forgiveness for individual student debt ever, 165,000 West Virginians will have their student loans cut by at least 25%, if the loans are federal.
