Some experts believe the Biden administration could announce a decision on whether to extend a more than two-year-long pause on federal student loan debt this week, ahead of the current Aug. 31 deadline. Many borrowers are hoping the Education Department will extend that break and announce up to $10,000 in loan forgiveness.
Currently, about 44 million borrowers owe a collective $1.7 trillion in federal student loan debt.
Yet, a new poll finds Americans worry that debt forgiveness could have unintended consequences.
Already battling higher prices, 59% of Americans are concerned that student loan forgiveness will make inflation worse, according to a new CNBC survey, conducted online by Momentive among a national sample of 5,142 adults from Aug. 4 to 15.