A ‘Drop in the Bucket’ for Many: Let’s Put Biden’s Student Loan Relief in Perspective

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For those with large debt burdens, forgiving $10,000 isn't very much. And it only applies to those making less than $125,000 per year.

Jordan Handcox recently completed an orthopedic surgery residency and has $184,000 of student loan debt. The average orthopedic surgeonanywhere from $150,000 to $600,000, depending on where they live.

But when Handcox graduated from medical school at the University of California, San Francisco in 2009, she made the “big financial mistake” of getting married. “We didn’t really think through what legal marriage would mean for us in terms of student loans,” Handcox said. With her and her husband’s incomes combined, she went from “being expected to pay about $200 in loans per month to approximately $1,800.

 

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