FILE - President Joe Biden delivers remarks before signing The Inflation Reduction Act in the State Dining Room of the White House on Aug.
16, 2022, in Washington, D.C. (Photo by Drew Angerer/Getty Images) WASHINGTON - With the freeze on student loan payments set to expire soon, President Joe Biden is planning an announcement on Wednesday amid pressure from Democratic lawmakers to forgive more than $10,000 in student loan debt, according to multiple reports.
Payments for federally backed student loans have been suspended since the COVID-19 pandemic began in March 2020. The federal pause has been extended several times, and they’re finally set to resume on Sept.
1 unless the Biden administration decides to once again take action. The Wall Street Journal and Bloomberg both reported the planned announcement this week.