President Joe Biden is expected to announce on Wednesday that he will forgive $10,000 in student loan debt for millions of borrowers who fall below an income cap.

After months of weighing executive action, President Obama is expected to reveal his decision.

It will be interesting to see what the president makes of his vacation in Rehoboth Beach, Delaware.

The action is expected to extend the suspension of federal student loan payments until January..

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A program that was announced during the coronavirus pandemic—to expire this month.

The White House would not confirm the AP's report.

The White House has not confirmed the Associated Press's report that Trump will announce his decision on the Iran nuclear deal by Aug. 31.

Progressive Democrats are urging Biden to cancel more debt for Americans who took federal loans to pay for college.

But some Democratic economists, including former Treasury Secretary Larry Summers, worry that debt cancelation could make matters worse.