May 27, 2022
White House officials are planning on canceling $10,000 in student debt per borrower, a central campaign promise by President Biden that would relieve debt for millions of Americans, The Washington Post reported. Biden’s proposal, however, is still not finalized.
The announcement of the president’s plan to address the $1.7 trillion currently owed to the federal government in student debt had been speculated by many to come as soon as this Saturday, when Biden will be making a commencement speech at the University of Delaware. According to the Post, the timing of the announcement has been delayed after the mass shooting in Texas on Tuesday.
Multiple sources familiar with the topic told Inside Higher Ed that they have not received communication from the Biden administration of any proposal to relieve student debt.