Education secretary vows decision on student loan pause coming soon
Americans can expect to hear the Biden administration's next steps on the federal student loan payment pause "within the next week or so," Education Secretary Miguel Cardona told NBC's "Meet the Press" on Sunday.
Driving the news: The moratorium on federal student loan repayments lasts through Aug. 31, but the Biden administration has not announced whether it will extend the pause.
- The freeze has been extended several times since March 2020. The Biden administration has vowed that a decision on student loans and possible loan forgiveness would come before the end of August.
- Reports in May suggested Biden was considering forgiving $10,000 of student loan debt for most borrowers, considerably less than the $50,000 some lawmakers have asked for.
What they're saying: "We know Aug. 31 is a date many people are waiting to hear something from," Cardona said.
- "We've been talking daily about this and I can tell you that the American people will hear within the next week or so."