Massive News As Biden Is Looking At Forgiving Most Or All Student Loan Debt

Last updated on July 18th, 2023 at 01:51 pm

President Biden has told congressional lawmakers that he is looking at options to forgive most or all student loan debt.

CBS News reported:

President Biden is looking at different options to forgive most, if not all, federal student loan debt – a move that would thrill some of his most loyal supporters and financially strapped students nationwide, but is a departure from campaign pledges to provide limited relief.

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When Hispanic Caucus members mentioned student loans, the president said he’s asked aides to explore his options – a signal to lawmakers that he may be willing to go farther than he pledged during the campaign. 

“They’re looking at different options on what they can do. On forgiving it entirely. That was our request,” said one of the lawmakers in attendance, who asked for anonymity to speak frankly about the meeting.

Total forgiveness would wipe out debt for 43 million Americans. President Biden seems to be coming around on going way beyond his initial proposal to cancel $10,000 in student loan debt for each borrower.

Getting rid of student loan debt, much of it has been sitting around for decades with no one collecting any money would help millions of people and the nation itself remove a barrier to income equality.

The entire student loan system is long overdue for reform.

Chuck Schumer, Elizabeth Warren, and nearly 100 more congressional Democrats have called on Biden to cancel student loan debt.

If Biden wants to give voters a reason to vote Democratic, he can start by canceling student loan debt.

Jason Easley

Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.

Awards and  Professional Memberships

Member of the Society of Professional Journalists and The American Political Science Association