Between 2011 and 2021, the percentage of people age 25 and older who had completed a bachelor's degree or higher increased by 7.5 percentage points from 30.4% to 37.9%. Census Bureau Releases New Educational Attainment Data https://www.census.gov/newsroom/press-releases/2022/educational-attainment.html
I think the U.S. would be better off if they did not cancel these loans -- but used the money to provide the first two years of an associate degree at a public institution for free. People could move on (transfer) to a four year school after their two years at a public community college. The schools could even set up partnerships to allow easy transition.
Americans who worked hard to pay off student loans react to Biden's handout https://www.foxnews.com/lifestyle/americans-bidens-student-loan-handout-plan-suspicious
Biden to cancel up to $10K in federal student loan debt for certain borrowers and up to $20K for Pell Grant recipients The percentage of students who received Pell Grants was highest for Black students (72 percent) and lowest for Asian (36 percent) and White (34 percent) students. With all this money going to Blacks, pretty soon the Government is going to have to create a standard as to who is Black Here is an old standard....maybe 23 and me can dig to find one percent from people who are "white" The one-drop rule is a legal principle of racial classification that was prominent in the 20th century United States. It asserted that any person with even one ancestor of black ancestry ("one drop" of "black blood")[1][2] is considered black