Biden Cancels Student Loans

It appears that President Biden is closing in on a decision to wipe away  $10,000 per borrower for those who currently hold student debt.

According to The Hill, the decision which has not yet been finalized will still have certain caveats if Biden decides to follow through. President Biden is now scheduled to speak at the Naval Academy’s commencement ceremony regarding his decision.

Furthermore, multiple sources are claiming Biden will use his time during the speech at the Naval Academy to announce some form of debt forgiveness.

Deputy press secretary Vedant Patel explained, “No decisions have been made yet — but as a reminder no one has been required to pay a single dime of student loans since the president took office.”

Multiple sources however have informed The Hill that President Biden is looking to erase at least $10,000 in student debt.

In April, President Biden stated, “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.”