Cardona says Biden administration will announce decision on student loan payments in the next week
by Brad Dress - 08/21/22 11:07 AM ET
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.
“We know Aug. 31 is a date that many people are waiting to hear something from,” the secretary said. “We’ve been talking daily about this, and I can tell you the American people will hear within the next week or so.”
Last week, Cardona teased that a similar announcement was coming soon. It’s not yet known if the administration is set to extend a freeze on student loan payments and interest accrual or if the Education Department will also announce a more permanent solution, such as canceling some debt for each borrower.
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.
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https://thehill.com/homenews/sunday-talk-shows/3609607-cardona-says-biden-administration-will-announce-decision-on-student-loan-payments-in-the-next-week/
