Biden Takes a ‘Hard Look’ at Student Debt Forgiveness
President Biden on Thursday said he is looking at forgiving some student debt after repeatedly extending a moratorium on student loan payments.
“I am considering dealing with some debt reduction,” Biden told reporters after delivering remarks on Ukraine aid. “I am not considering $50,000 debt reduction, but I’m in the process of taking a hard look at whether or not there will be additional debt forgiveness and I’ll have an answer on that in the next couple of weeks.”
Biden earlier this month extended the pandemic moratorium on federal student loan payments and interest accrual through August. Loan payments were first paused in March 2020 early in the pandemic under then-President Trump, and the moratorium has been extended multiple times since.
