Student Loan Forgiveness: How Would It Work?

For many, the American dream includes a college education, but that education comes with a hefty price tag. Nearly 45 million Americans owe more than $1.7 trillion in federal student loan debt. Sen. Elizabeth Warren said canceling student loan debt is the single most effective executive action that President Biden can take. And he has said he is prepared to write off up to $10,000 in federal student loan debt, but how would that work?