Biden Administration Forgives $39B In Student Debt For More Than 800,000 Borrowers
Portfolio Pulse from Charles Gross
The Biden administration has forgiven $39 billion in student debt for over 800,000 borrowers. This move could impact the revenues of student loan companies like SLM Corp and SoFi Technologies.

July 14, 2023 | 11:07 am
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NEGATIVE IMPACT
SLM Corp, a major student loan company, could see a decrease in revenues due to the Biden administration's student debt forgiveness.
As a major player in the student loan industry, SLM Corp's revenues could be negatively impacted by the large-scale debt forgiveness. This is because the company will lose out on future interest payments from the forgiven loans.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SoFi Technologies, a company offering student loan refinancing, could also see a decrease in revenues due to the Biden administration's student debt forgiveness.
SoFi Technologies, which offers student loan refinancing, could also be negatively impacted by the debt forgiveness. The company could lose out on potential customers who no longer need to refinance their loans due to the forgiveness.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) could see minor impacts due to the student debt forgiveness, as it includes companies that could be affected by the move.
The SPDR S&P 500 ETF (SPY) includes a wide range of companies, some of which could be indirectly affected by the student debt forgiveness. However, the overall impact on the ETF is likely to be minor due to its diversified nature.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50