Don’t Bother Paying Off Student Loan Debt Right Now, Advisers Say
Experts are recommending a wait-and-see approach as President Biden faces mounting pressure to move forward on a forgiveness plan.
U.S. President Joe Biden speaks in the Eisenhower Executive Office Building in Washington, D.C. on Tuesday.
Photographer: Ting Shen/BloombergThis article is for subscribers only.
Financial advisers rarely recommend not paying off debt, but this time is different.
Since President Joe Biden was elected, millions of Americans with student loan debt have waited for him to fulfill a campaign promise of forgiving at least $10,000 per borrower. While Biden recently extended the payment moratorium for the loans until Aug. 31, pressure is mounting on the administration as the midterm elections approach.