3 Stocks to Buy for Student Loan Forgiveness On Aug. 24, President Joe Biden signed an executive order addressing student loan debt. As it pertains to student loan stocks to buy, many investors don’t seem to understand the specifics surrounding the situation. However, the move has some investors wondering if there are now stocks to buy based on the recent action. The move was somewhat controversial, given citizens’ feelings about who is responsible for student loan debt. Some felt that the debt — or a portion of the debt — should be forgiven. Others felt that the debt was a personal responsibility and should not be forgiven. Complicating matters is the fact that the PPP loans were forgiven. In any regard, the specifics include : “The Department of Education will provide up to $20,000 in debt cancellation to Pell Grant recipients with loans held by the Department of Education, and up to $10,000 in debt cancellation to non-Pell Grant recipients. Borrowers are eligible for this relief if their individual income is less than $125,000 ($250,000 for married couples).” Further, the Administration “will extend the pause a final time through December 31, 2022, with payments resuming in January 2023.” SOFI SoFi $5.82 NNI Nelnet $84.27 SLM Sallie Mae $14.86 Sofi (SOFI) Source: Michael Vi | Shutterstock SoFi (NASDAQ: SOFI ) was a favorite among growth stocks to buy for investors.