The Future of US Debt-Ceiling Crisis and Student Loan Forgiveness
TL;DR Summary
The student loan forgiveness pause will officially end on August 30, according to reports. The deal, created by President Joe Biden and House Speaker Rep. Kevin McCarthy, looks to waive between $10,000 to $20,000 in debt for all borrowers, to help secure a new debt ceiling for the nation. However, Congress must still consider whether it will authorize the spending deal, or not. The Supreme Court is also determining the future of Biden’s student loan relief plan, with a decision to be reached before the end of June.
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