Biden to share decision on student loan moratorium, forgiveness this week: Report
![College grads](https://cdn.mos.cms.futurecdn.net/cG8CmxqY7m6VQnAHVStUXA-415-80.jpg)
For those waiting for a decision regarding their student loans, it looks like an update could be coming any day now.
President Biden is expected to announce as early as Wednesday whether or not his administration will be forgiving up to $10,000 in student debt or extending the current repayment moratorium, Reuters reports per a source familiar with the matter.
The current payment pause is set to expire on Aug. 31, and borrowers have been eagerly awaiting news of an expected extension. Student debt relief advocates also think Biden will announce a plan to forgive as much as $10,000 for borrowers that make under $125,000 a year, Reuters writes.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
![https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516-320-80.jpg)
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
But as for what actually happens ... well, only time will tell. The White House has kept details of the decision close to its proverbial chest, The Wall Street Journal writes, and "only a small group of Mr. Biden's top aides have been informed of his plans."
Forgiving just $10,000 in debt for certain individuals would fail to satisfy progressive calls to forgive up to $50,000 per borrower — but it's certainly better than nothing. Meanwhile, Republicans have opposed any plan for widespread debt forgiveness, arguing that such a move is unfair to anyone who either paid off their loans or didn't go to college, and could also worsen inflation, notes the Journal.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brigid Kennedy worked at The Week from 2021 to 2023 as a staff writer, junior editor and then story editor, with an interest in U.S. politics, the economy and the music industry.
-
Magazine solutions - August 2, 2024
Puzzles and Quizzes Issue - August 2, 2024
By The Week Staff Published
-
Magazine printables - August 2, 2024
Puzzles and Quizzes Issue - August 2, 2024
By The Week Staff Published
-
'In a normal country, their activities wouldn't even be crimes'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
Netanyahu makes controversial address
Speed Reads Israeli Prime Minister Benjamin Netanyahu's speech to Congress denounced Gaza war protestors
By Rafi Schwartz, The Week US Published
-
The US presidents who decided not to run for a second term
The Explainer Joe Biden's decision to end his re-election campaign was shocking, but there's a long history of presidents who've bowed out on a chance at four more years
By Rafi Schwartz, The Week US Published
-
What has Kamala Harris done as vice president?
In Depth It's not uncommon for the second-in-command to struggle to prove themselves in a role largely defined by behind-the-scenes work
By Theara Coleman, The Week US Published
-
'Spare us the charade'
Instant Opinion Opinion, comment and editorials of the day
By Anya Jaremko-Greenwold, The Week US Published
-
How Biden's enablers may have delayed his bowing out
Talking Points Joe Biden's inner circle faces calls for a reckoning for allegedly shielding the president — and the public — from questions of aging and electoral viability
By Rafi Schwartz, The Week US Published
-
Biden ends reelection bid, endorses Harris
Speed Read The sitting president gave his VP full support to replace him atop the Democratic ticket
By Peter Weber, The Week US Published
-
Can Kamala Harris beat Trump?
Today's Big Question Some senior Democrats are unsure the vice-president can win in November even as party closes ranks behind her
By The Week UK Published
-
Pelosi and Obama add to doubts over Biden
Speed Read Both Democrats think the president should reconsider his reelection campaign, insiders say
By Rafi Schwartz, The Week US Published