Wesley Whistle, senior advisor for policy and strategy, higher education at the public policy think tank New America, calls an additional suspension “very, very likely.” He says that could come from the Trump administration or the president-elect.
“What I imagine that (Biden) would do is extend it for a set time or using an automatic stabilizer approach, like once unemployment hits ‘x,’ ” Whistle says.
A Department of Education spokesperson declined to comment on whether President Trump plans to extend the forbearance during his final weeks in office. Biden’s transition team also did not respond to questions about whether he would use an executive order to renew the forbearance.
Provide $10,000 in forgiveness as part of COVID relief
Biden says he plans to cancel $10,000 in federal student debt as part of COVID-19 relief.
That could wipe out debt completely for nearly 15 million borrowers who owe $10,000 or less,