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Biden confirms he’s close to a decision on student-loan forgiveness

President Joe Biden told reporters last week that he is close to making an announcement on student loan forgiveness and that another extension on federal student loan repayment is “on the table.”

For months, the Biden administration has been teasing the announcement of a student loan forgiveness plan, sparking speculation that has ignited political fights between Democrats and Republicans, and within the Democratic Party.

The Washington Post, in May, reported that Biden plans to cancel $10,000 in student debt for people who earned less than $150,000 the previous year, citing anonymous White House insiders. On the campaign trail, Biden pledged to cancel a minimum of $10,000 of student debt per person.

Biden also told reporters last week at Rehoboth Beach in Delaware that the extended moratorium on student loan repayment that’s been in place since March 2020 beyond its current end date of Aug. 31, is “all on the table right now.”