Biden Weighs Student Loan Forgiveness As Payment Pause Coming To An End
Time is closing in on President Joe Biden to make a final decision on student loan forgiveness as his latest payment pause is set to expire Aug. 31.
Biden is expected to make a final decision as soon as Wednesday about whether to again extend the payment pause for several months. He also is considering a plan to forgive up to $10,000 in loans for individuals with annual incomes of less than $125,000, according to NBC News.
"The President will have more to say on this before August 31," White House spokesman Abdullah Hasan said.
"As a reminder, no one with a federally held loan has had to pay a single dime in student loans since President Biden took office, and this administration has already cancelled about $32 billion in debt for more than 1.6 million Americans — more than any administration in history," Hasan added.
There also have been conversations among Biden administration officials about additional student loan debt forgiveness for people who fall under a certain income level. The White House has insisted that no final decision had been made yet.
The freeze on federal student loan repayments has been in place since March 2020 at the start of the COVID-19 pandemic. It has since been extended four different times.
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