All the pandemic Student Loan debt pausing rules run out Aug. 31st….
From the jump Joe Biden has NOT be enthusiastic about cancelling ANY student debt….
Under pressure he mentioned cutting $10,000 ….
Other Democrats wanted a $50,000 as the amount to go for…
A trial ballon went up about getting rid of some interst payments….
But I think there isn’t gonna be a broad based forgiveness annoucment from the President who has ducked the question since he got elected…..
Education Secretary Miguel Cardona on Sunday said the Biden administration will announce a decision on whether to extend a pause on federal student loan debt in the next week, butting up against the current deadline of Aug. 31, when the current moratorium on loan payments expires.
Cardona told moderator Chuck Todd on NBC’s “Meet the Press” that the announcement was forthcoming but declined to share any other details…
The Biden administration has faced pressure from some Democratic lawmakers to cancel up to $50,000 in debt per borrower. The president has championed forgiving up to $10,000 in debt, but no official announcement has been made on debt forgiveness.
The Education Department has already made strides to forgive student loan debt, which is estimated to be at $1.7 trillion spread across 45 million Americans….
The Biden administration has cleared $32 billion in student loan relief for more than 1.6 million borrowers, mostly students who were defrauded or misled by schools or through the Public Service Loan Forgiveness (PLSF) program, which forgives debt for those who work in public service or other qualifying jobs.
Cardona on Sunday said the PSLF program has forgiven more than $10 billion for borrowers to date under the Biden administration….