President Joe Biden | Courtesy CNN
WASHINGTON (AP) — President Joe Biden said Thursday that he’s “taking a hard look” at canceling additional federal student loan debt and will reach a decision within a month.
“I am considering dealing with some debt reduction,” Biden told reporters in the Roosevelt Room at the White House.
The comments came days after Biden had a private meeting with Democratic lawmakers who pressed him on the issue. One of the lawmakers, Rep. Tony Cardenas, D-Calif., said afterwards that Biden disclosed he was exploring the possibility.
However, Biden signaled in his Thursday remarks that he wouldn’t go as far as some activists want, saying $50,000 in debt forgiveness was not under consideration. He did not give a number for what he was considering.
“I’m in the process of taking a hard look at whether or not there will be additional debt forgiveness,” he said. “And I’ll have an answer on that in the next couple of weeks.”
During his campaign, Biden said he wanted to “immediately cancel” at least $10,000 in student debt per person. So far he’s repeatedly extended a pause on requiring borrowers to repay their loans, a moratorium that was put in place under then-President Donald Trump near the beginning of the COVID-19 pandemic.
Although activists have been encouraged by their increasing traction on this issue, some said they were concerned that Biden wouldn’t go far enough.
“President Biden, we agree that we shouldn’t cancel $50,000 in student loan debt. We should cancel all of it,” said Wisdom Cole, national director of the NAACP Youth & College Division. “$50,000 was just the bottom line.”
White House press secretary Jen Psaki said Thursday that Biden was still considering whether to tie debt relief to borrowers’ income levels, an idea he’s floated in the past. She said it’s “certainly something he would be looking at.”
She rejected criticism from Sen. Mitt Romney, R-Utah, and others that debt relief amounts to a political giveaway.
Biden’s goal, Psaki said, is to “continue to provide relief to people who need it most, to help people get some extra breathing room.”
The post Biden taking ‘hard look’ at student loan forgiveness appeared first on East Idaho News.
Source: eastidahonews.com
Biden taking ‘hard look’ at student loan forgiveness
More from Business & MoneyMore posts in Business & Money »
- Is your favorite lip balm making your chapped lips worse?
- Pocatello doctor pays $96,000 to settle allegations he wrote unlawful prescriptions
- 8.2 million packets of Tide, Gain, Ace, and Ariel detergent pods recalled over faulty packaging
- ‘Drgn Den’ local ‘Shark Tank’ competition fires up entrepreneurs
- Costco begins offering Ozempic prescriptions to some members
More from EducationMore posts in Education »
- Pocatello aims to inspire young readers to become future city leaders
- Idaho suspends social worker scholarship program, cites budget concerns
- ISU to construct brand new swimming pool to replace over 70-year-old one
- D91 approves $4.3M in budget reductions
- Pocatello/Chubbuck school trustees to patrons: Vote no on their $33 million bond ask
More from NationalMore posts in National »
- NYC may use birth control to manage rat population
- Israel, Iran play down apparent Israeli strike. The muted responses could calm tensions — for now
- You have to see this! 7-year-old girl honors deceased mother by selling lemonade to pay for headstone
- News organizations post open letter urging Biden and Trump to debate ahead of 2024 election
- Roku says 576,000 accounts breached in cyberattack
Be First to Comment