and others in the media about the challenges he will face in January and the limitations of his executive power, Biden, “I’m going to get in trouble for saying this . . . it’s arguable that the president may have the executive power to forgive up to $50,000 in student debt... Well, I think that’s pretty questionable. I’m unsure of that. I’d be unlikely to do that.”
Earlier in the day, Biden had reaffirmed his general support for broad student loan forgiveness, but suggested that he would support a smaller amount of $10,000. Last week, Rep. Ayanna Pressley and other House Democrats introduced a resolution calling on Biden to cancel $50,000 in federal student loan debt for every borrower using executive authority. Senate Democrats, led by Senators Elizabeth Warren and Chuck Schumer, had introduced a similar resolution earlier in the year.
A diverse coalition of 237 civil rights and consumer protection organizations, including the NAACP and several national labor unions, to Biden in November, urging him to use executive authority to cancel federal student debt when he assumes office in January. “President-Elect Biden can— and should— cancel student debt on Day One of his presidency,” said Ashley Harrington, federal advocacy director and senior counsel at the Center for Responsible Lending, at the time.
😏
Goldman Sachs is looking to keep raking in interest payments rather than 1 time settlement with the government with student loan forgiveness. Their analysis is completely biased by their own self interest in this. They'd miss out on billions.
4 years of neoliberal hell! Sweet!!!
What about those of us who have private loans? Should we just be left alone?
He shouldn’t agree to $50,000... in fact $10K is still a lot, just get rid of the interest rates, students borrowed and it needs to be returned, but you can eliminate the interest rates!!!
This is not backtracking it's political maneuvering😀. Still not being honest, he has absolutely no intention of doing this. Fool me once shame on you, fool me 6 times.. Question isn't when will politicians stop being untruthful, but rather, when will people stop falling for it?
You know what he will cancel? Your dreams with broken promises he never intended on keeping.
All you little kids that ran out thinking you would be debt free will soon find out you were once again duped by the lies of a shitty politician. NO and I repeat NO politician cares about any of us.
Term Limits
Great lesson in politics for the young folks
Promises made ... promises broken....
They always did promise a soda machine and longer recess during the election, yet we never got it when the election was over. Am I surprised? Not in the least....
Now that he thinks the election is over, you Sanders and Warren supporters can go suck it...
Of course it’s unlikely this man is a liar.
This career crook isn't gonna help any American with jack shit.
Nah... Egypt wants more....
😂😂😂
US debt is $6trils They are worse debtor nation than Venezuela Can they afford another trillion to bailout students debt? crazy liberals
This one of the reasons so many chose Biden and should be implemented. USA has financial-debt slavery. Europe is ahead when it comes to providing real career benefit to its citizens. I will never get a student loan in the USA. Schools have a high price for cheap education.
This is not news
Good!
Nothing will hurt the Democratic Party more than giving college students/graduates a break of between $10 and $50k on their debt, but leave working, non-college students/graduates stuck with all of theirs. Nobody will feel they have to pay their bills. I sure wouldn’t.
His choice: A. Full forgiveness of the student debt and a restructuring of the university system to free the debt slaves and gain a lifetime of votes. B. Do nothing, USD inflates, $50000 is nothing. Non-asset owners stay slaves. That generation will steer their children away.
Let’s try. I’ve paid back my debt and then some and I still owe money. It’s time to forgive
Well you have to actually be president first.
$10-$20k is reasonable!CancelStudentDebt
Just lemme laugh louder😂😂😂😂 Cause Trump vetoed $600 stimulus for Americans, suddenly Biden wants to cancel $50k of debt? Biden is a big fraud, can’t say no more!
Here's a way they all can repay their students loans.
Democratic voters will never learn. How is life in Chicago or LA or any major city in the US that is Dem run? They run cities and the minority groups into the ground and then blame conservatives for their woes, promise change and nothing happens. Rinse and repeat the cycle. Sheep
Lol played
Cancel culture
The fact that people still fall for this is not surprising in the least.
And the backtracking begins.
People need to payback the money they borrow. Sad and pathetic
Go ahead Illegitimate Joe, drive another wedge into the country. Not everyone thinks debt forgiveness is a fair thing.
Doesn’t have to cancel anything. All he has to do is prolong emergency interest free forbearance indefinitely, which was done by EO. A debt you don’t have to pay is as good as forgiven.
It's not over yet, not until January 6th. You had better hope we get this election mess straightened out. Right? Our Republic depends on fair elections, and this one clearly was not.
He doesn’t want to rock the boat. He’d rather piss away his Presidency and play it safe. Let the GOP take over in four years after he’s done nothing to move the needle. Disappointing, but still better than the narcissist in chief.
JoeBiden had previously said that the amount that he was willing to consider was $10,000. Democrats are trying to push for 50k and he was just setting straight that likely he will not consider that amount. Man is been honest he will not consider that high amount.
His campaign contained exactly zero policy or promises, so not sure why anyone would expect he suddenly implement Bernie policies
JoeBiden can not cave on this. If democrats want to stay in power and energize young voters. This has to happen ASAP
What about credit cards from late stimulus pay ?
Can he forgive my car loan at least? Come on Biden, you’re a democrat, give us free stuff so we like you!
No shit, you make false promises to get votes
Cancel $10,000
I have no worries that the President Elect will be anything but a Center Right moderate.
First big mistake of his presidency then
wow
Duh whoever believes he would is a sheep
DEMOCRATS are such clowns!!!!!