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Action soon on student loan debt


WASHINGTON (NEXSTAR) — President Joe Biden’s administration has not yet made a decision about extending the pause on federal student loan debt nor about whether some of that debt will be canceled, but his education secretary is promising some sort of action before the end of the month.

“The American people will hear directly from us because we recognize this is an important issue across the country,” U.S. Secretary of Education Miguel Cardona said.

He appeared Sunday on NBC’s “Meet the Press” and CBS’s “Face the Nation” to discuss the matter. He said his team is in daily talks with the White House.

“We’re not slowing down,” Cardona said. “We want to make sure that college is more accessible and more affordable for Americans across the country.”

The White House has said it is considering canceling up to $10,000 per borrower, but progressives are pressuring Biden for more — $50,000. Rep. Pramila Jayapal, the chair of the House Progressive Caucus, tweeted Monday that it would be a “great day to cancel student loan debt and deliver relief for millions of borrowers across the country.”

Many Republicans are opposed to the idea.

“I think it just seems inherently unfair,” Rep. John Katko, R-N.Y., said, saying canceling debt now after many have already paid off their loans is wrong and won’t fix the underlying problem of the cost of education. “I think the better thing would be to look at why is college tuition over the last several decades increased at twice the rate of inflation? Why is that? Why is college education far more expensive than buying a car on an annual basis for a four-year education?”

The president’s schedule for the week does not so far indicate an announcement but that could change. Biden, who is on vacation, is expected back at the White House Wednesday.


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