Methodology: Estimated cancellation assumes households of married couples receive double the benefit of households of single adults and that dependent children receive no forgiveness. Cancellation averages assume borrowers with private or nonfederal loan receive forgiveness or credits equal to forgiveness for federal loans. Total repaid estimates assume an average interest rate of 6 percent over a 5-year repayment period and should only be used to compare cancellation plans broadly. $10,000 forgiveness plan's income cap is $75,000 for individuals and $150,000 for households.

Where forgiveness plans help most

The average U.S. household student loan debt is highest in the upper income quintiles and among Black families. Some plans include income thresholds that lower the dollar amount of forgiveness for higher-earning households.