“We’ve been talking daily about this, and I can tell you the American people will hear within the next week or so from the President and the Department of Education on what we’re going to be doing around that,” Cardona told NBC’s Chuck Todd on “Meet the Press.”
He did not elaborate on the details, saying he would not get ahead of the announcement.
“I don’t have any news to announce today,” he said.
The White House has previously said that Biden will have something to announce ahead of the August 31 deadline.
Payments have not been required on most federal student loans since March 2020, when the Covid-19 pandemic hit the US, greatly affecting the economy.
Along with potentially extending the pause, the White House has suggested Biden is considering canceling $10,000 per borrower, excluding those who earn more than $125,000 a year — something he had campaigned on in 2020.
Biden has canceled more student loan debt than any other president, with his administration authorizing the cancellation of nearly $32 billion in loans largely for borrowers who were defrauded by their for-profit colleges and for permanently disabled borrowers.
CNN’s Katie Lobosco and Veronica Stracqualursi contributed to this report.