Are Student Loans Being Forgiven or Not?

The House and Senate voted to repeal President Biden’s student loan forgiveness plan, but does it even matter?

graduation cap icon for student loan story
(Image credit: Getty Images)

House Republicans voted to repeal President Biden’s student loan forgiveness plan and the administration's efforts to extend the student loan payments pause, but that extension won't happen anyway. President Biden agreed to resume student loan payments as part of the debt ceiling deal, which suspends the national debt limit until 2025. 

"No one got everything they wanted, but the American people got what they needed. We averted an economic crisis, an economic collapse," President Biden said in a speech regarding the debt limit agreement.

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Katelyn Washington
Former Tax Writer

Katelyn has more than 6 years of experience working in tax and finance. While she specialized in tax content while working at Kiplinger from 2023 to 2024, Katelyn has also written for digital publications on topics including insurance, retirement, and financial planning and had financial advice commissioned by national print publications. She believes knowledge is the key to success and enjoys providing content that educates and informs.