A rising call from House and Senate Democrats is urging President Joe Biden to use his executive powers to cancel $50,000 in student loans per person. When asked at a CNN town hall Tuesday night, Biden said he would be unwilling to meet the demands.
“I will not make that happen,” Biden said in reference to the $50,000 plan. Sens. Chuck Schumer (D-New York) and Elizabeth Warren (D-Massachusetts) argue that Biden should not stop at his current $10,000 plan. “Data show that canceling the student loan debt would result in greater home ownership rates, more housing stability, improved credit scores, higher incomes, higher GDP, more small business formation and more jobs,” Warren said in a statement on Thursday.
Biden is supporting a $10,000 loan forgiveness program as confirmed by White House Press Secretary Jen Psaki. “The President has and continues to support canceling $10,000 of federal student loan debt per person as a response to the Covid crisis,” Psaki said last Tuesday, specifying that Biden expects Congress to draft the forgiveness proposal.
Joe and his wifeJill Biden are advocates for increased access to education. The couple staunchly supports making community college free for all who wish to attend and making public four-year universities free for students with families making less than $125,000 a year.
