“I am considering dealing with some debt reduction. I am not considering $50,000 debt reduction,” Biden said at the White House after unveiling new funding for Ukraine. “But I’m in the process of taking a hard look at whether or not there are going — there will be additional debt forgiveness, and I’ll have an answer on that in the next couple of weeks.”
During a meeting with members of the Congressional Hispanic Caucus on Monday, Biden appeared “positive” about the idea of forgiving at least $10,000 in Americans’ student loan debt but did not make a definite commitment on the matter, according to California Democratic Rep. Nanette Barragán.
The White House has long indicated that the President would support action by Congress to eliminate $10,000 in student loan debt forgiveness for borrowers, but Biden hasn’t made clear whether he would use executive powers to immediately provide that mass debt relief. But it’s unlikely Congress, where Democrats have a slim margin, has the votes to pass legislation broadly canceling debt.
Biden on Thursday touted the steps he’s already taken that have eased debts for public sector workers.
“The first thing we did was reform the system that was in place that didn’t work for anybody that allowed people to write off debt if they engaged in public service,” he said.