Biden Signals He’s Open to Canceling Student Debt

“President Biden gave strong indications during a private meeting with House Democrats this week that his administration is poised to take significant action to relieve student loans in the coming months, a move that would likely include the cancellation of potentially tens of thousands of dollars in debt,” the Washington Post reports.

“Borrowers are currently benefiting from a moratorium on paying off their student loans until Aug. 31, a pandemic-induced pause that began under the Trump administration. The White House has come under considerable pressure from the progressive wing of the Democratic Party to outright cancel the liabilities.”

CBS News: “The move could affect more than 43 million borrowers who hold more than $1.6 trillion in federal student loan debt, the second-largest debt held by Americans, behind mortgages.”