President Joe Biden is now signaling that he is actively considering his options to administer student loan debt cancellation through executive action.
The indicators from the White House follow a meeting on Monday with members of the Congressional Hispanic Caucus, where the president signaled he was willing to continue with the ongoing federal moratorium on student loan repayments and would also consider executive action that could cancel some portion of the debt.
Details of the meeting were first reported by The Washington Post and CBS News and highlighted how the administration was reviewing the available options amid concerns over how canceling student debt could impact inflation.
For now, the pause on federally-held student loan payments and interest accrual remains in effect through August 31. With the congressional midterm campaigns well underway, the administration could be looking to use this new end date as a moment to announce new actions concerning the student loan portfolio.
Publication Date: 4/27/2022