Biden confirms he's nearing a decision on student-loan forgiveness and says a payment-pause extension is 'on the table'

• President Biden told reporters on Monday that he's nearing a decision on student-loan forgiveness.
• He also said another extension of the student-loan payment pause is "on the table."

President Joe Biden on Monday confirmed that a decision that would affect millions of student-loan borrowers is on the horizon.

While walking along the water in Rehoboth Beach, Delaware, Biden took a few minutes to chat with journalists on topics including collective bargaining, gas rebate cards, and student-loan forgiveness.

Recent reports have suggested Biden is considering $10,000 in relief for borrowers making under $150,000 a year. While the White House has not confirmed any plans, Biden told reporters on Monday that he's close to making an announcement on student debt.

A reporter also asked the president whether he is considering another extension of the student-loan payment pause, set to expire after August 31.

"It's all on the table right now," Biden responded.

Officials recently told The Wall Street Journal that Biden's likely to announce student-debt relief in July or August, closer to when student-loan payments are set to resume. Biden had told reporters in April that a decision on loan forgiveness would be made "in the next couple of weeks." Since then, advocates and many Democratic lawmakers have pushed the president to offer more relief rather than stick with the $10,000 amount, which he'd pledged on the campaign trail.

Rep. Alexandria Ocasio-Cortez of New York, for example, said in May that Democrats "can do better" than $10,000 in debt cancellation. She recently wrote on Instagram: "There are policies where a halfway approach is kind of a waste as it's not much better than nothing, and resources are better spent elsewhere. We push so that people can actually experience the benefits of a policy."

Sen. Elizabeth Warren of Massachusetts, who has advocated $50,000 in relief, told The Philadelphia Inquirer earlier in June that $50,000 "was a number to get the most relief to the most people." While Biden said in April that he was not considering $50,000 in relief, Democrats like Warren have continued to push for such an amount.

Meanwhile, many Republican lawmakers have slammed the idea of broad student-loan relief, arguing it would hurt the economy and cost taxpayers. Democratic and Republican lawmakers alike have asked Education Secretary Miguel Cardona for information on how prepared the Education Department is to carry out forgiveness.

Rep. Virginia Foxx, the top Republican on the House's education committee, recently wrote in a letter to Cardona, "You said you are ready to act on student loan forgiveness, but you can only be ready if you know the plan; therefore, please describe, what is this plan?"

Cardona said in early June that he was "ready to roll" with whatever Biden decides, but he'd said last month that "at some point, people are going to have to start paying what they can afford to pay."