You Can Expect an Announcement on Student Loans as Soon as Next Week

Biden’s education secretary says borrowers will hear from the administration before August 31.

Spencer Platt/Getty

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

With about 10 days remaining until federal student loan payments are scheduled to resume, borrowers can expect an announcement from the Biden administration on student debt before the end of the month, Education Secretary Miguel Cardona told CBS News’ Meet the Press on Sunday.

Student loan payments have been on hold since March 2020, when President Donald Trump authorized the pause as a form of pandemic relief. Since Joe Biden took office, he’s extended the moratorium four times, most recently until August 31. Meanwhile, the White House is considering canceling some student debt.

“We know August 31 is a date that many people are waiting to hear something from,” Cardona told CBS News’ Chuck Todd. “We’ve been talking daily about this, and I can tell you that the American people will hear within the next week or so.”

“Is it fair to say it won’t be nothing?” Todd interjected.

“Well, I don’t have any news to announce today, Chuck,” Cardona said. “But I will tell you the American people will hear directly from us.”

As my colleague Hannah Levintova has reported, activists have been pushing for student debt forgiveness for about a decade, and the idea has become increasingly popular in recent years. As a candidate, Joe Biden pledged to cancel up to $10,000 in student debt per borrower, while progressive Democrats have pushed for up to $50,000. But since taking office, he’s been slow to act. Earlier this month, Press Secretary Karine Jean-Pierre said the White House was continuing to “assess our options” on broad student loan cancellation.

A BETTER WAY TO DO THIS?

We have an ambitious $350,000 online fundraising goal this month and we can't afford to come up short. But when a reader recently asked how being a nonprofit makes Mother Jones different from other news organizations, we realized we needed to lay this out better: Because "in absolutely every way" is essentially the answer.

So we tried to explain why your year-end donations are so essential, and we'd like your help refining our pitch about what make Mother Jones valuable and worth reading to you.

We'd also like your support of our journalism with a year-end donation if you can right now—all online gifts will be doubled until we hit our $350,000 goal thanks to an incredibly generous donor's matching gift pledge.

payment methods

A BETTER WAY TO DO THIS?

We have an ambitious $350,000 online fundraising goal this month and we can't afford to come up short. But when a reader recently asked how being a nonprofit makes Mother Jones different from other news organizations, we realized we needed to lay this out better: Because "in absolutely every way" is essentially the answer.

So we tried to explain why your year-end donations are so essential, and we'd like your help refining our pitch about what make Mother Jones valuable and worth reading to you.

We'd also like your support of our journalism with a year-end donation if you can right now—all online gifts will be doubled until we hit our $350,000 goal thanks to an incredibly generous donor's matching gift pledge.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate