The Biden administration is unlikely to announce a decision on student loan forgiveness until later this summer, The Wall Street Journal reported. The more than 40 million Americans saddled with student debt have been anxiously awaiting news after President Joe Biden said in May he’d be sharing his plans in the next couple of weeks.
The White House’s announcement on forgiveness is likely to come in July or August, according to The Wall Street Journal.
Most likely causing the delay is intense deliberation — and disagreement — between officials on the political and financial factors of canceling billons of dollars in education debt. There’s no precedent for such a move.