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White House says one-time loan forgiveness is on sound legal and fiscal footing

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Director of White House Economic Council emphasizes student loan forgiveness is one-time measure

U.S. President Joe Biden’s decision to forgive a portion of student loan debt for many Americans is on a strong legal and fiscal footing, Bharat Ramamurti, director of the White House National Economic Council, said on Friday.

Ramamurti said Biden’s move is based on laws passed by Congress and that the White House is on “very strong legal ground.”

 

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