Biden confirms he’s nearing a decision on student-loan forgiveness and says a payment pause extension is ‘on the table’

President Joe Biden speaks to reporters as he returns to the White House from Delaware on the South Lawn in Washington, Monday, May 30, 2022.

Biden confirmed to reporters he is nearing a decision on student-loan forgiveness.
He also said another student-loan payment pause extension is “on the table.”
Biden is likely to announce relief in July or August, closer to when payments are set to resume.

President Joe Biden confirmed a decision that will impact millions of student-loan borrowers is on the horizon.

While walking along the water in Rehoboth Beach, Delaware, on Monday, Biden took a few minutes to chat with the press on topics ranging from collective bargaining to gas rebate cards. He also acknowledged his long awaited student-loan forgiveness announcement. Recent reports have suggested Biden is considering $10,000 in relief for borrowers making under $150,000 a year, and while the White House has not publicly confirmed any plans, Biden told reporters that “yes,” he is close to making that announcement.

A reporter also asked the president if he is considering another extension of the student-loan payment pause, currently set to expire after August 31.

“It’s all on the table right now,” Biden responded.

The Wall Street Journal recently reported Biden is planning to announce student-loan relief in July or August, closer to when student-loan payments are set to resume. This came after Biden told reporters in April that a decision on loan forgiveness would be made “in the next couple of weeks.” Since then, advocates and many Democratic lawmakers have been pushing the president to use this time to go big on relief, rather than stick with the $10,000 amount, which he pledged on the campaign trail.

New York Rep. Alexandria Ocasio Cortez, for example, previously said Democrats “can do better” than $10,000 in debt cancellation, and she

Source:: Businessinsider

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