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High inflation complicates Biden’s student loan forgiveness hopes


High inflation complicates Biden’s student loan forgiveness hopes

  • Biden said April 28 that he was looking closely at canceling student loan debt, but still hadn’t made a decision.
  • The White House says any impact on inflation would be “negligible”, but other economists have concerns.
  • Any plan to cancel student debt would likely coincide with the end of the loan repayment freeze.

WASHINGTON — In April, President Joe Biden said he was looking closely at executive action to cancel federal student loan debt and “would have an answer” within weeks.

But six weeks later, the president has not made up his mind as the push collided with the politics of 40-year high inflation in a midterm election year.

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