Biden is expected to announce broad student-loan forgiveness

BonSmartway.com images source from en.wikipedia.org

In April, Biden extended the federal pause on student-loan payments through August 31

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He is expected to announce an extension of that pause — along with broad student-loan forgiveness

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Scott Buchanan, the executive director of the Student Loan Servicing Alliance — a group that represents federal loan servicers — wrote a letter to Education Secretary

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that any announcement at this late date, less than ten days before the scheduled resumption of Sep-1, risks operational disruption

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Ten days is grossly insufficient notice to reprogram the massive and interwoven systems that handle loan accounts

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The department has not yet commented on issues that might arise with a late announcement of relief

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But those two policies — debt cancellation and a payment pause extension — are still two major question marks,

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It's not final until it's final, but borrowers may finally receive news they've been waiting for since Biden took office.

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