Biden’s decision on student loans reportedly coming soon

WASHINGTON, D.C. (CNN) – The Biden administration is expected to make a decision on repaying school loans soon.

Education Secretary Miguel Cardona told NBC’s “Meet the Press” it could come within the next week or so.

The White House has already extended the pandemic-related pause four times, the last time was in April. But the frozen payments are set to end on August 31.

While some advocates say up to $50,000 should be forgiven, the administration is suggesting a smaller break.

Right now the U.S. has $1.6 trillion worth of student debt.

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