High inflation complicates Biden’s student loan forgiveness hopes

• Biden said April 28 he was taking a “hard look” at canceling student loan debt, but he’s still not made a decision.
• The White House says any impact on inflation would be “negligible,” but other economists have concerns.
• Any student debt forgiveness plan would likely coincide with the end of the freeze on loan payments.

WASHINGTON – In April, President Joe Biden said he was taking a “hard look” at executive action to forgive federal student loan debt and would “have an answer” in a couple of weeks. 

But six weeks later, the president hasn’t made a decision as the push has collided with the politics of 40-year-high-inflation in a midterm election year.