President Biden appears to be nearing a final decision on mass student loan forgiveness.
Speculation has been building that Biden will make an announcement as soon as this Saturday, when he is scheduled to give a commencement address at the University of Delaware, his alma mater.
However, more recent reports suggest any announcement on student loan cancellation could be postponed given the recent mass shooting in Texas.
Top administration officials have been saying for weeks that some sort of widespread student loan cancellation initiative is under serious consideration.
White House officials said last month that a decision on executive action to cancel student loan debt could be made within weeks
the current tentative White House plan is for Biden to cancel $10,000 in student loan debt for borrowers.
No final decision has been made, but this seems to be where the administration is landing.
Eliminating $10,000 in federal student loans would cancel the student loan debt of up to 16 million borrowers, representing around a third of all student loan borrowers, according to the Center for American Progress.