President Joe Biden. Evan Vucci/Associated Press Fifteen million borrowers would have their student debt completely wiped out with Biden's $10,000 forgiveness promise. Data obtained by Sen. Elizabeth Warren also found 36 million borrowers would be debt-free if Biden were to forgive $50,000 per borrower. Biden has yet to fulfill his campaign promise as pressure ramps up for broad student debt cancellation. President Joe Biden campaigned on canceling $10,000 in student debt per borrower.