Biden Wants to Announce $10,000 Student Debt Cancellation Per Person
It's unclear if this means that both the payment and interest pause would resume in the fall.
Biden AdministrationPolitics

The Biden administration plans to unveil a plan to cancel $10,000 in student debt for each borrower, according to a new report by The Washington Post on Friday. Three sources told reporters that the latest plan will have an income cap of $150,000 per year for singles and $300,000 for joint-filers.
The plan is not final, but this is a number far below what activists have pushed for. There’s no clear answer on what this announcement would mean for the payment and interest payment pause that’s been in place since March 2020. Last month, the Department of Education extended the payment pause until Sept. 1—two months before the midterm elections Democrats historically will lose.