How the student debt crisis ballooned to $1.7 trillion

The student debt crisis ballooned to over $1.7 trillion in recent years. This debt has varying effects on students, workers and the larger economy. Since taking office, President Biden has been largely silent about a plan to broadly cancel student debt, even though he campaigned on canceling up to $10,000 in student debt for all borrowers. However, his administration has absolved some student debt for certain groups, like borrowers with disabilities and active duty service members.