Topline

The White House is weighing income limits for student loan forgiveness, the Washington Post reported Saturday, days after President Joe Biden said he may cancel “some” debt and indicated he is coming closer to a decision on the issue within the next few weeks.

Key Facts

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White House officials have considered limiting relief to individual tax filers who made less than either $125,000 or $150,000 in the previous year, three people familiar with the discussions told the Post,

For couples who file their taxes jointly, the cap could reportedly be $250,000 to $300,000.

The Post reports the planning is still in flux and that the numbers or requirements could change before Biden makes a final decision.

The reported income caps come after Biden said Thursday he was taking a “hard look” at loan forgiveness, though he ruled out canceling $50,000 per borrower.

bloomberg reported Friday the Biden administration may forgive at least $10,000 per borrower, citing anonymous sources familiar with the matter, but noted the specifics of the proposal have not been fleshed out.

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Credit: www.forbes.com /

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