Biden Eyes Student-Loan Forgiveness Starting at $10,000
- Momentum to act on student loans has increased in recent weeks
- Move could excite progressives and other key voter groups
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The White House is considering forgiving at least $10,000 in student loans per borrower through executive action, according to people familiar with the matter, with momentum increasing as President Joe Biden seeks ways to bolster voter enthusiasm ahead of the November midterms.
The move would come with considerable risks. Some deficit hawks worry it could worsen the inflation that is already weighing heavily on Democrats’ chances of maintaining control of the House and Senate. But any move may not go far enough to appease progressives and other advocates.