On Tuesday, President #JoeBiden said he would not remove $50,000 in student debt, shooting down a measure proposed this month by #Democrats. He did state that he is open to some form of loan forgiveness.
“I will not make that happen,” Biden said at a #CNN town hall in Milwaukee in response to a member of the audience who called on him to pledge the removal of at least $50,000 in student debt.
Biden, listing the debts that his own children obtained after attending private universities, said that he understood the burden of the student loan crisis but that without Congressional action, he did not believe he could eliminate $50,000 on his own.
“My point is: I understand the impact of debt, and it can be debilitating,” Biden said. “I am prepared to write off the $10,000 debt but not $50 thousand because I don’t think I have the authority to do it.”
In early February, Senate Majority Leader Chuck Schumer, D-N.Y., Sen. Elizabeth Warren, D-Mass., and other legislators issued a resolution calling on Biden to use executive action to wipe out federal student loan debt up to $50,000 for all borrowers, arguing that the secretary of education has the authority to cancel the debt. #news
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