<p>US President Joe Biden said on Thursday that he will make a decision on whether to forgive some federal student loan debt and announce his plans soon.</p>.<p>"I am considering dealing with some debt reduction," Biden told reporters.</p>.<p>"I am not considering a $50,000 debt reduction, but I'm in the process of taking a hard look at whether or not there will be additional debt forgiveness, and I'll have an answer on that in the next couple of weeks."</p>.<p>Student debt cancellation has become a priority for many liberals and one that could shore up popularity with younger and more highly educated voters, who lean Democratic, ahead of November's critical midterm elections.</p>.<p>But the Biden administration has been reluctant to unilaterally make an unprecedented cancellation of college debt owned by the U.S. government, a move that would test his legal authority.</p>.<p>Instead, Biden has asked Congress to pass a bill forgiving debt that he could sign.</p>.<p>The federal government has let 43 million borrowers stop paying on a total of $1.6 trillion in student loans since the onset of the Covid-19 pandemic in 2020. </p>.<p><strong>Check out DH's latest videos:</strong></p>
<p>US President Joe Biden said on Thursday that he will make a decision on whether to forgive some federal student loan debt and announce his plans soon.</p>.<p>"I am considering dealing with some debt reduction," Biden told reporters.</p>.<p>"I am not considering a $50,000 debt reduction, but I'm in the process of taking a hard look at whether or not there will be additional debt forgiveness, and I'll have an answer on that in the next couple of weeks."</p>.<p>Student debt cancellation has become a priority for many liberals and one that could shore up popularity with younger and more highly educated voters, who lean Democratic, ahead of November's critical midterm elections.</p>.<p>But the Biden administration has been reluctant to unilaterally make an unprecedented cancellation of college debt owned by the U.S. government, a move that would test his legal authority.</p>.<p>Instead, Biden has asked Congress to pass a bill forgiving debt that he could sign.</p>.<p>The federal government has let 43 million borrowers stop paying on a total of $1.6 trillion in student loans since the onset of the Covid-19 pandemic in 2020. </p>.<p><strong>Check out DH's latest videos:</strong></p>