"Biden was never a big fan of using the presidency to cancel debt, but after meeting with members of the Congressional Hispanic Caucus last week and facing plummeting approval ratings in an election year, reports suggest that action is coming. His press secretary and chief of staff have both said that he’ll announce a plan, or extend the current payment pause again to have more time to make a decision.
Biden has already extended the pause four times (former president Donald Trump issued the first pause, then extended it twice), amounting to about $200 billion worth of savings, but pressure from liberal activists and Democratic lawmakers is building. Student loan experts told Vox it’s important to use two frames to understand what kind of debt relief is coming: the amount of money that would be forgiven and who receives that forgiveness."
Every dollar of student debt cancellation counts, but bigger is better for advancing racial equity and economic security,” Charlie Eaton, an assistant professor at UC Merced, and four other scholars write.
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