Sources said President Biden’s intended measure would include at least $10,000 in loan forgiveness for borrowers making less than $125,000 a year, as well as another payment freeze for about four months. The $10,000 amount would be the largest individual federal student loan forgiveness to date. The move comes just a week before the White House’s Aug. 31 deadline. The timing has left millions of Americans awaiting guidance from the Department of Education on whether student loan payments that have been postponed since the start of the pandemic will resume next month. The possible announcement on Wednesday comes amid the shortest amount of time borrowers have had to determine when their payments will resume. The White House, under Biden and former President Trump, has extended the moratorium six times since March 2020, sometimes giving borrowers up to a month’s notice of whether their bills will be paid off. Trump’s order temporarily halted the accrual of interest on federal student loans, effectively putting $1.6 trillion in debt owed by about 40 million Americans on hold. Since Biden took office, his administration has approved more than $31 billion in student loan relief for hundreds of thousands of borrowers. But that relief was extended only to certain cases, including those who have attended schools found to have misled students, borrowers with disabilities and those participating in the Public Service Loan Forgiveness program. Nancy Pelosi’s husband pleads guilty to DUI, faces prison term Senators urge State Department action over US teacher jailed in Russia But $10,000 in forgiveness for a much wider range of borrowers likely won’t satisfy some Democrats or activists who have pushed the Biden administration to forgive much more of federal student loans. In May, Senate Majority Leader Charles Schumer (DN.Y.), Sen. Elizabeth Warren (D-Mass.) and Sen. Raphael Warnock (D-Ga.) met with Biden to push for a pardon. Advocates and other Democrats, including Schumer, have pushed for $50,000 per borrower to be forgiven or for the debt to be written off entirely. —Updated at 1:25 p.m