Author Topic: Biden's decisions on student loan pause, forgiveness expected this month  (Read 66 times)

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Offline mystery-ak

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6 hours ago
Biden's decisions on student loan pause, forgiveness expected this month
The president said he would decide on forgiving student loan debt by the end of August

By Breck Dumas FOXBusiness

President Biden is taking his time to reveal whether he will issue a seventh extension of the pandemic-era pause on student loan payments that expires at the end of this month, raising speculation that a bigger announcement involving student debt forgiveness will come with it.

The administration has already signaled that the loan payments set to resume on Sept. 1 will not be due. The Wall Street Journal reported last week that the Department of Education had instructed loan servicers not to send out billing statements.

With no time to send out statements providing the required 30 days' notice, it is a safe bet that borrowers will not have to resume payments just yet. Some may never have student loan payments again.

According to multiple reports, the president is considering eliminating some student debt for current borrowers; it is simply a matter of what dollar amount. There is also consideration of what income cap might be set, if any.

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