Politics

White House Investigating Biden’s Authority To Cancel Student Debt

By

President Joe Biden’s Education Secretary is reportedly investigating the administration’s legal authority to cancel some of the $1.7 trillion student loan debt, but the White House says the President still does not support debt relief above $10,000 for all borrowers.

“The President does not favor $50,000 in student loan relief without limitation,” a White House spokesperson told Fox News Thursday.

Any debt relief above $10,000 would have to be targeted, “based on the borrower’s income, based on the kind of debt in question,” the White House said.

White House chief of staff Ron Klain told Politico Thursday that Education Secretary Miguel Cardona is preparing a report for the President on his legal authority to cancel student debt.

“He asked his Secretary of Education, who’s just been on the job a few weeks, once he got on the job to have his department prepare a memo on the President’s legal authority, and hopefully we’ll see that in the next few weeks,” Klain told Politico. “And then he’ll look at that legal authority, he’ll look at the policy issues around that, and he’ll make a decision.”

The President campaigned on canceling up to $10,000 in student debt per borrower, but the progressive wing of the Democratic Party is calling on him to cancel up to $50,000.

“We’re all here to call on President Biden to do right by the movement that elected him and t… (Read more)