What Will Joe Biden Do? Student Loan Forgiveness Isn’t Dead Yet One thing that’s clear is that the debt cancellation if it happens, won’t be total, nor will it represent “free college” for all or even most Americans. President Biden, during his campaign of 2020, promised some level of student debt forgiveness. So far, as president, he has not yet delivered that. This has some asking whether Biden actually intends to follow through on that promise. A new report, however, says that the idea of student debt forgiveness isn’t quite dead after all. According to CNBC, various experts believe that there’s still a chance that forgiveness will happen.