At a Politico Playbook event on Thursday, White House Chief of Staff Ron Klain indicated that Biden has asked newly-appointed Secretary of Education Miguel Cardona to put together a memo outlining potential legal authorities that would allow him to enact broad student loan cancellation of up to $50,000.
Separately, last month President Biden also directed the Department of Justice to evaluate his authority to enact widespread student loan forgiveness. Student loan borrower activists, advocacy organizations, and Democratic lawmakers have been mounting an ongoing pressure campaign for months to convince President Biden to cancel student debt through executive action. Earlier this year, Rep. Ayanna Pressley , along with several other progressive House Democrats, introduced a resolution calling on Biden to cancel $50,000 in federal student loan debt for every borrower using executive authority.
Biden has expressed support for broad student loan forgiveness, but he has repeatedly said that he would prefer that Congress enact student debt cancellation through legislation, rather than acting unilaterally via an executive order. That might prove difficult, however, as it is unclear that a majority of Democrats in either the House or the Senate would approve such a measure, or whether Senate Democrats would be able to avoid or overcome an expected filibuster by Senate Republicans.
✍🏻 OldTakesExposed
He'll do anything to avoid the news of the thousands of illegals overwhelming our borders.
College should be affordable not free maybe make full ride athletes that run to the pros pay back their education and use that money to reduce the cost
He can't do that. If he wants it cancelled, he will have to print money to pay off creditors.
So I get to pay for my own education as well as others through additional imposed taxes? Alternatively we could focus on decreasing interest rates on said loans.
Thank God for bringing bitcoin to man,it has being a great source of blessing to all of man kind who have passion for bitcoin trading. Now the poor are getting rich over night and the rich getting richer. SamuelEddy_4 thank you for your proper management .
Does canceling debt mean the schools will refund the $$? The bank that made the loan doesn't get repaid? Or people who did not benefit from the service provided get to pay for the ones who did?
That's 1 student's Medical/Law/Architecture/Engineering degree 🤔🤷♂️
More equity, Biden/Harris style! This decree would force American taxpayers to absorb hundreds of millions in unpaid debt, while giving the finger to people who worked to pay their debts and sacrificed to put their kids through school.
Just cancel all student debt and have a real fresh start for all!
Then he should go back and pay everyone back that paid theirs off that is still alive