President Biden has asked the Department of Education to study whether he can unilaterally forgive federally held student loan debt, raising hopes for roughly 45 million Americans who collectively owe $1.7 trillion.Last year, both the Trump administration and Congress temporarily halted collection from certain student loan borrowers in response to the COVID-19 pandemic. Biden instructed the Education Department to extend that relief.
“I’m prepared to write off a $10,000 debt, but not 50" thousand, Biden said. “Because I don’t think I have the authority to do it by signing the pen.” If the department says Biden cannot act alone, Congress could pass legislation forgiving student loan debt, and the White House has said Biden would gladly sign it. But Democrats hold slim margins in the House and Senate, and the issue tends to be politically unpopular with Republican lawmakers. So unless 10 Republican senators are willing to jump in to help Democrats defeat a potential filibuster, it’s unlikely this Congress can successfully forgive student loan debt.
Others point to the Higher Education Relief Opportunities for Students, or HEROES, Act of 2003, which allows the secretary to waive or modify certain loan programs to ensure that people harmed during a presidentially declared national emergency “are not placed in a worse position financially.”
Gender studies isn’t a real degree. Let them pay for that stupidity.
I strongly oppose this. Wildly unfair to the kids who didn't or couldn't go to college or the ones who paid off their debts already. I hope Joe rejects this proposal. Regressive and inherently racist. If this happens, I'm probably switching to Independent.
Just do it!
$50k is the right way!
It's the same evil