The Biden administration has promised to make a decision on student loan forgiveness by the end of August, when monthly loan payments are scheduled to resume after being paused for over two years:
President Joe Biden could make his announcement on student loan forgiveness as soon as tomorrow, five sources with knowledge told NBC News.
Administration officials repeatedly said the decision would come before the end of August, when monthly loan payments are scheduled to resume after being paused for over two years as part of a pandemic-era relief policy. Though the White House insists no final decision has been made, three sources told NBC that the president is expected to extend the pause on student loan debt payments for several months while forgiving loans up to $10,000 for those with yearly incomes of less than $125,000.
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