Will student loans get extension  again from Biden administration?

Will student loans get extension  again from Biden administration?

US Education Secretary Miguel Cardona said Americans can expect a decision from Biden's administration on student loans "soon".

Many are anxiously waiting to hear if President Joe Biden will extend the  pause on federal student loan payments.

The current extension is set to expire on August 31.

Borrower balances have been frozen since Covid-19 pandemic in March 2020. 

Biden has extended the pause four times, saying it's important to allow borrowers to get back on their feet. 

Democratic lawmakers and advocates have been asking to cancel up to $50,000 on student loan debt per borrower. 

The POTUS is considering canceling $10,000 per borrower, excluding  those earning over $125,000 per year. 

Borrowers hold $1.6 trillion on outstanding federal student loan debt.