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Good news for those who have student
loans the white house is expected to
make a big announcement about loan
forgiveness as early as this week
according to multiple sources the plan
would likely be to forgive ten thousand
dollars per borrower making less than
125 thousand dollars a year it comes as
the current pause on federal student
loan payments is set to expire august
31st cbs political correspondent caitlin
huey burns joined rick mooderage to
explain what borrowers can expect
we know that the administration is
hoping to make a decision
soon but when and what that looks like
remains to be seen they have narrowed a
few different options and you mention
that forgiveness of ten thousand dollars
of student debt for those below a
certain income threshold and the devil
will really be in the details here the
administration has been criticized by
republicans for making this as a
political move coming right ahead of the
midterm elections and on an issue that
figures to really galvanize democratic
base voters and they’ve also been
critical of
this of student loan forgiveness in
general
but what the income threshold is and how
much debt would be forgiven
are those details that remain to be seen
and you mentioned that other issue that
other looming deadline that august 31st
deadline a lot of people who have the
student loan debt are wondering and
eager for the administration to make a
decision
and the bad administration has already
extended the pandemic related pause four
times the last time was in april