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Biden says he’s considering canceling ‘some’ student debt

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President Joe Biden confirmed on Thursday that he’s considering canceling “some” amount of federal student loan debt but emphatically ruled out acceding to progressive demands to forgive as much as $50,000 per borrower.

“I am considering dealing with some debt reduction,” Biden said in remarks at the White House. “I am not considering $50,000 debt reduction.”

White House advisers have said for months that they have been looking at the possibility of using executive action to cancel debt. But they’ve emphasized Biden’s preference for Congress to pass legislation canceling $10,000 of debt per borrower – which is the amount of loan forgiveness that Biden endorsed on the campaign trail. Biden has previously said he was opposed to canceling as much as $50,000 per borrower.

The president's remarks on Thursday confirmed his private conversation with members of the Congressional Hispanic Caucus earlier this week in which he was widely reported to express a willingness to take executive action on student debt relief.

Senate Majority Leader Chuck Schumer, who........

© Politico

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