<p>Education Secretary Miguel Cardona said Sunday that the <a href="https://www.dailywire.com/topic/biden-administration">Biden administration</a> would announce in the next ten days whether or not the nationwide pause on federal student loan payments and interest accrual that went into effect two and half years ago would extend or expire.</p>
<p>During an appearance on NBC&#8217;s &#8220;<a href="https://www.nbcnews.com/meet-the-press/video/full-cardona-student-loan-announcement-within-the-next-week-or-so-146667589858">Meet the Press,</a>&#8221; Cardona told host Chuck Todd that the administration knows &#8220;many people are waiting to hear something&#8221; about the Aug. 31 deadline on the current moratorium, which began under the Trump administration at the start of the COVID-19 pandemic and has since been extended several times.</p>
<p>&#8220;We&#8217;ve been talking daily about this, and I can tell you the American people will hear within the next week or so,&#8221; Cardona said.</p>
<p>Cardona said the administration had already relieved over $10 billion of student debt for 1.6 million borrowers under the Public Service Loan Forgiveness program, which includes government organizations at any level.</p>
<p>&#8220;Public Service Loan Forgiveness was broken,&#8221; he said. &#8220;We fixed it so that our teachers or nurses can get loan forgiveness right away.&#8221;</p>
<p>Cardona said the administration has focused on ensuring it would protect students and borrowers from day one. Since taking on the previous administration&#8217;s pause, the Biden administration has forgiven approximately $32 billion in student loans, many of whom attended schools that went bankrupt or faced litigation for misleading students and fraudulently conducting business.</p>
<p>Last week, the U.S. Department of Education announced that it would cancel about $4 billion in the remaining 208,000 federal student loans for borrowers who attended ITT Technical Institute from 2005 until the for-profit college chain dissolved in 2016. Officials also formally notified DeVry University to pay back $24 million of approved borrower defense claims.</p>
<p>Forbes Advisor <a class="editor-rtfLink" href="https://www.forbes.com/advisor/student-loans/average-student-loan-statistics/#:~:text=Federal%20student%20loans%20make%20up,by%20about%2043%20million%20borrowers." target="_blank" rel="noopener">reports</a> that about 92% of federal loans make up the vast majority of American education debt, totaling $1.6 trillion owed by 43 million borrowers.</p>
<p>In a separate <a class="editor-rtfLink" href="https://www.forbes.com/advisor/personal-finance/who-pays-for-student-loan-forgiveness/" target="_blank" rel="noopener">report</a>, the publication said that 2.7 million borrowers had their federal loans in forbearance at the beginning of 2020. By the end of 2021, that number hit nearly 24 million borrowers.</p>
<p>Biden suggested that he consider forgiving $10,000 of student loan debt for most borrowers earlier this year. With the freeze still in place, the administration has faced mounting pressure from advocates for student loan forgiveness and Democrats to cancel up to $50,000 in debt per borrower.</p>
<p>However, canceling federal student loans for millions of Americans struggling to fulfill their end of the deal would end up costing the federal government hundreds of billions of dollars, and the general public would eventually financially suffer the consequences of that decision.</p>
<p>The Committee for a Responsible Federal Budget <a class="editor-rtfLink" href="https://www.crfb.org/blogs/what-does-student-debt-cancellation-mean-federal-finances" target="_blank" rel="noopener">reports</a> that canceling up to $50,000 of debt per borrower would cost around $950 billion, and canceling up to $10,000 would cost roughly $245 billion.</p>
<p>Tara Miller, a student loan consultant at GradFin, which offers personalized student loan advice, told <a class="editor-rtfLink" href="https://www.cnbc.com/select/student-loan-repayment-is-set-to-resume-unless-forbearance-continues/" target="_blank" rel="noopener">CNBC</a> she believes the administration would likely continue halting payments based on reports from loan advisers that said borrowers wouldn&#8217;t begin repayment as the moratorium&#8217;s deadline approaches.</p>
<p>&#8220;I do think that they will announce another extension, likely next week,&#8221; Miller said.</p>

<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<script async src="https://www.tiktok.com/embed.js"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

Nationwide Pause On Student Loan Debt Set To Expire, Biden Officials Expected To Update Borrowers Soon

New Mexico Lawsuit Accuses Meta Platforms Of Enabling Child Sexual Abuse Material, Human Trafficking

Sean ‘Diddy’ Combs Accused Of Sex Trafficking, Raping Teenage Girl In Fourth Sexual Assault Lawsuit

Mayorkas Confirms FBI Warning, Says Blinking Red Lights Everywhere On Terror Threats

California Retailers Without ‘Gender Neutral’ Section For Kids Face Fines Up To $500 Under New State Law

WATCH: Top University Presidents Balk When Asked If Genocidal Chants Against Jews Violate Codes Of Conduct

Catholic Leaders Slam FBI Over ‘Illegitimate Targeting” Of Catholics As Bureau Defends Its Investigation

News

Biden Administration

Department of Education

Miguel Cardona

Student Loan Cancellation

Student Loans

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News —

Nationwide Pause On Student Loan Debt Set To Expire, Biden Officials Expected To Update Borrowers Soon