Biden's student loan move is being shaped by intense political pressure and a barrage of criticism.
Images: Tenor
President Joe Biden's announcement Wednesday that he would cancel student loan debt for millions of Americans and extend a pandemic-era pause on repayments followed intense pressure from within his own party and a barrage of criticism from Republicans.
Images: Tenor
Despite pledging to quickly forgive debt for many Americans, his decision didn't come until over a year and a half into his presidency -- it was shaped by economic pressures and political concerns.
Images: Tenor
Biden waited until just one week before the current payment moratorium was due to end at the end of this month to announce that he would extend the pause, through the end of the year -- and past the November midterm elections.
Images: Tenor
Americans with federal student loan debt faced uncertainty about how to budget for the months ahead, unsure whether they would have to resume payments.
Images: Tenor
The president had come under increasing pressure from within his own party, with prominent Democrats and advocacy groups publicly calling on him to cancel more than $10,000 per person, what he had pledged to do while running for president.
Images: Tenor
Schumer urged Biden to forgive as much debt as possible, as Schumer has advocated forgiving up to $50,000 in debt previously.