Biden to waive $10,000 in student loans, suspend final repayment

Biden to waive $10,000 in student loans, suspend final repayment

Wednesday, President Biden will cancel up to $10,000 in student debts and extend the COVID moratorium.

Biden is under pressure from liberals to help hard-hit borrowers and from moderates and Republicans to be fair.

Biden's delay has increased expectation for what his advisers admit is a political no-win situation.

Most debtors earning less than $125,000 should profit from the scheme.

It's aimed to benefit young borrowers and support Biden's Democratic allies before the midterms.

More than 43 million Americans have federal student debt, with half owing less than $20,000.

Pandemic-era payment suspension persists days before student loan bills are due.

Student loans show the challenge of delivering a campaign promise in the Biden White House.

The approach would undoubtedly wipe out college debt for millions of Americans.

As per Biden, Progressives seek student loan forgiveness, but moderates worry about the economy.

Biden postponed plans to announce student loan forgiveness in the spring to avoid scaring moderates.

With unemployment at record lows, Republicans and fiscal hawks claim the freeze is no longer needed.

They mock loan forgiveness as an election-year handout to Democrats.