Decision on student debt moratorium expected ‘within the next week or so’

The Biden administration appears to be waiting until the proverbial 11th hour when it comes to deciding whether or not to extend a moratorium on federal student loan payments past August 31.

Daily conversations

That’s according to comments made by Education Secretary Miguel Cardona during a Sunday appearance on NBC’s “Meet the Press.”

“From day one, we’ve been really focused on making sure we’re protecting our students and our borrowers,” the Washington Examiner quoted Cardona as telling host Chuck Todd.

“We know Aug. 31 is a date that many people are waiting to hear something from. We’ve been talking daily about this, and I can tell you that the American people will hear within the next week or so,” he continued.

Meanwhile, Fox News reported that Cardona also made similar remarks when he appeared on CBS’s “Face the Nation.”

“I don’t have a decision for you today, but what I will tell you that daily we’re having conversations about this, and the American folks will hear before the end of the month,” Cardona told host Margaret Brennan.

The Examiner noted that late last month, 100 Democratic lawmakers sent a letter to the president and Education Secretary Miguel Cardona in which they demanded that the pause, which was originally instituted two years ago by former President Donald Trump, be extended again.

“Low-income borrowers, black and brown borrowers, and women borrowers still face severe financial hardships as COVID-19 continues to infect individuals throughout the country and exacerbate existing inequities,” the letter reads.

“Moreover, resuming student loan payments at this moment would further complicate administrative actions already underway or contemplated by the department —which could contribute to unnecessary confusion for borrowers in the upcoming months,” it stressed.

Poll shows that many fear student debt forgiveness will worsen inflation

The Biden administration is already facing pressure from left-wing members of the Democratic Party to implement a student debt forgiveness plan.

Yet as CNBC reported, a poll conducted earlier this month found that 59% of Americans fear that student debt forgiveness proposals will make inflation worse.

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