President Joe Biden is poised to announce a sweeping package of
The president, who is expected to unveil the plan Wednesday, will also extend the moratorium on repaying student-loan debt for four months through Dec. 31, people familiar said. It would be the final pause that Biden backs, according to a person familiar with the matter. White House spokespeople did not immediately respond to a request for comment.
It's the seventh extension of the freeze since the COVID-19 pandemic began in March 2020, and would take the pause beyond the November midterm elections, in which Democrats are hoping to stave off a loss of their slim House and Senate majorities. The latest pause in loan repayments is set to expire Aug. 31. Support from young voters could help boost Democrats' showing.
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For several months, Biden has been weighing forgiving $10,000 per borrower in student debt and capping the relief at incomes of $125,000 to $150,000 a year.
But advocates — including progressive lawmakers, civil rights groups and labor leaders — have pressured the White House to
—With assistance from Alex Tanzi and Janet Lorin