What’s happening President Biden still hasn’t announced his decision on widespread student loan forgiveness, but millions of borrowers have already had $25 billion in debt canceled during his term. Why it matters With one in five Americans owing student debt, loan forgiveness can help ease the pain of soaring inflation and economic uncertainty. Time is running out on President Joe Biden to make a decision on federal student loan forgiveness. The pause on student loan payments expires on Aug. 31, and borrowers will be asked to resume payments after more than two years of forbearance. Biden campaigned in 2020 on a platform of canceling a “minimum of $10,000” in student loan…