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Biden is considering wiping out $10,000 of student loan debt for Americans: Report

President Joe Biden appears to be increasingly open to taking executive action on federal student debt forgiveness as the midterm elections loom

President Joe Biden could take executive action to wipe at least $10,000 in federal student debt per borrower, it was reported on Friday.

It would make good on a promise Biden made on the 2020 campaign trail, as he looks to help Democrats get voters to the polls in November’s midterm elections.

A recent analysis by the Brookings Institute put the total cost of forgiving $10,000 for every one of the roughly 43 million student loan borrowers at about $373 billion.

But sources told Bloomberg that any aid is likely to be more targeted to lower and middle-income earners.

Administration officials, however, left the door open to a ‘possibly…

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