President Joe Biden has signaled he might forgive some student loan debt and further extend the federal moratorium on repayments, a lawmaker who discussed the issue with him said Wednesday.
The White House was notably more measured about Biden's stance, but such moves would be a boon to many of the 43 million Americans carrying student loans worth $1.6 trillion, according to federal figures. It would also be a win for Democratic and progressive leaders who have long pressed Biden to carry through on a 2020 campaign promise that as president he would “immediately" cancel up to $10,000 in debt per student.
