UPDATED 6:38 AM PT – Friday, April 2, 2021
Joe Biden is reportedly asking his education secretary about his options regarding unilaterally canceling student loan debt. On Thursday, White House Chief of Staff Ron Klain said Biden was looking into the “legal authority and policy issues” involved if he were to forgive $50,000 of debt per student.
Biden used a promise of wiping $10,000 of loan debt during the campaign to earn the votes of the progressive wing of his party. However, since he took office those same progressives, including Senate Majority Leader Chuck Schumer (D-N.Y.) and Sen. Elizabeth Warren (D-Mass.), have been pushing him to go further.
The student loan system is fundamentally broken. @SenWarren, @RepPressley, and I are calling on @POTUS to cancel up to $50k in federal student loan debt. This action will help close the racial wealth gap and give student borrowers the relief they deserve. https://t.co/OEAYtaU9BR
— Maura Healey (@MassAGO) April 1, 2021
“That’s something Congress could take action on and we’d be happy to sign,” stated White House Press Secretary Jen Psaki. “We’re still taking a closer look at our options on student loans; this includes examining the authorities we have.”
Klain said Biden would not release his position until after he has had time to review the Department of Education’s report.