"The word is that" is a phrase used to convey rumors or news about something. There are several synonyms that can be used to replace this phrase and convey the same message. For instance, "rumor has it" is a commonly used phrase that means the same thing. Another synonym for "the word is that" is "people are saying." In addition, one could use "it has been reported that" to convey the same message. Other alternatives include "word on the street is," "according to sources," or "it's been whispered." Regardless of the synonym used, the intention is to convey information that may or may not be true, but is nonetheless of interest to the listener.