Biden Will Cancel Massive Amount of Student Debt

Joe Biden

( – Just as the congressional midterm elections arrive, President Joe Biden will announce as early as tomorrow that he is erasing a massive amount of student debt for an untold number of borrowers while simultaneously extending the moratorium on payments for those who will still be in debt.

As NBC News is reporting in “Biden nears decision on student loan cancelation, moratorium extension“:

“President Joe Biden is expected to announce Wednesday at the White House that he will cancel $10,000 in federal student loans per borrower making $125,000 a year or less.

“He is also expected to extend the federal student loan payment pause for several more months, according to multiple sources familiar with the matter.” [emphasis added]

Biden has been under pressure from the left to take this action that many conservatives find unacceptable.

“The expected announcement comes as Biden is facing criticism from student debt relief advocates over his drawn-out decision-making process that has left millions of borrowers unclear about whether they would have to start making payments when the moratorium expires at the end of August.” [emphasis added]

What is your opinion about President Joe Biden single-handedly canceling student debt for millions of Americans who borrowed money to go to college? Please share your thoughts and views by emailing [email protected]. Thank you.