Reasons Behind Student Loan Forgiveness Delay

In relation to the student loan payment suspension and general debt forgiveness, Biden has not yet made his decision.

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Whatever he decides, over 40 million student loan borrowers are about to hear information that will have a long-term impact on their financial lives.

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It's been about a week since Biden stated he'd make a decision but he's made no additional pronouncements.

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Here are the following five possible explanations for the delay in the cancellation of student loans

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1. Biden hasn't decided about student loans. There's no certainty that Biden will cancel millions of student loans.

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2. Biden has postponed canceling student loans. Biden might have announced student loan elimination last week at the University of Delaware's commencement.

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3. The Biden administration may have determined the president lacks the legal power to cancel student loans without congressional approval.

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4. Some liberal Democrats in Congress are pushing for Biden to forgive debtors up to $50,000 in school debt.

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5. Biden may have canceled student debts and focused on other relief measures. Biden may continue to cancel student loans through government initiatives.

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