The topic of student loan debt comes up often, and Biden had vowed to eliminate the debt during his election.
Unfortunately, aside from temporarily pausing it during the pandemic, nothing else has really been done.
While campaigning for his presidency, he vowed $50,000 for all students be forgiven, yet nothing has happened.
What has happened for student loan debt with the Biden administration?
In April the administration shared that they were weeks away from an announcement, but no announcement came.
It is now believed that an announcement will be made in August sometime.
This would happen around the end of the student loan repayment pause.
Will Biden cancel education debt?
It is alleged that Biden plans to cancel up to $10,000, but limit the access to who can do it.
Apparently, single earners making less than $150,000 per year can cancel that debt, or married couples earning less than $300,000.
This is not what was promised when he ran for president.
Evidently, supporters say Biden could use an executive order to cancel $50,000 in debt.
Many Democrat lawmakers have come out in opposition to Biden’s handling of student loan debt.
Cancel student loans: How soon will $10,000 of student debt be forgiven?
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