US Education Secretary Miguel Cardona said on Sunday that Americans can expect decision from the Biden administration on student loans in “next a week or so” pause on federal student loan payments set expire on August 31.
There were about 10 days left, and the Americans were left guessing if President Joe Biden will renew current moratorium or maybe forgive some of them debt.
“We talked about it every day and I can tell you that the American people will hear within next a week or so from the president and ministry of Education on what are we going to do about it,” Cardona told NBC’s Chuck Todd. on “Meeting with the press”.
He did not specify on details, saying he won’t move forward of in announcement.
“I don’t have any news announce today,” he said.
The White House has previously said Biden will have something to announce ahead of time. of deadline 31 August.
There were no payments required on most federal student loans from March 2020 when the Covid-19 pandemic hit United States, which strongly influenced economy.
Biden has extended in pause four timesMost recently in April, arguing that it is necessary allow federal student loan borrowers to get back on their legs.
Meanwhile, lawmakers and Democratic Party supporters are calling for Biden to widely repeal up up to $50,000 in student loan debt per borrower, but the President consistently promoted back on canceling so many.
Together with Potentially extending the pause, the White House has suggested that Biden is considering canceling $10,000 on every borrower except for those who earn more over $125,000 per year year – what he promoted on in 2020.
Biden canceled more student loan debt than any other president with his administration authorized the abolition of nearly $32 billion in loans in general for borrowers who were deceived by their forprofitable colleges and for constantly disabled borrowers.