When Will Student Loans Be Forgiven?

Millions of Americans are waiting for the Biden Administration’s next hint, which could come later this summer, at how he’ll address the student loan crisis.

Illustration of a graduate with an anvil for a cap
(Image credit: Getty Images)

See our latest: Biden's Student Loan Forgiveness: What it Means for You

Student loan borrowers have been paying attention since President Biden pledged during his 2020 presidential campaign to forgive $10,000 of federal student loan debt per person. And it's expected that the administration will stick with that promise, forgiving $10,000 of federal student loan debt for borrowers who make $125,000 or less annually.

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Senior Retirement Editor, Kiplinger.com

Elaine Silvestrini has worked for Kiplinger since 2021, serving as senior retirement editor since 2022. Before that, she had an extensive career as a newspaper and online journalist, primarily covering legal issues at the Tampa Tribune and the Asbury Park Press in New Jersey. In more recent years, she's written for several marketing, legal and financial websites, including Annuity.org and LegalExaminer.com, and the newsletters Auto Insurance Report and Property Insurance Report.