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Democratic lawmakers have been keeping the pressure on President Joe Biden to cancel $50,000 in student debt per borrower. Biden just told a top Democrat to keep the calls coming.

Student Debt Crisis, an advocacy organization, led an event on Wednesday to urge Biden to take action on the $1.7 trillion student-debt crisis. Senate Majority Leader Chuck Schumer and Massachusetts Sen. Elizabeth Warren — two leading lawmakers on the issue of debt cancellation — joined the event and said they had met with Biden on the issue and told him they’d be unrelenting in their push to get student debt forgiven.

“We said, ‘We’re going to keep at it until you do this,’ and to his [Biden’s] credit, he said, ‘Go ahead.’ He’s talked about 10 thousand — that’s not enough,” Schumer said during the event. “We’re keeping the pressure on him.”

I was so proud to join @SenWarren, @Alyssa_Milano, organizers, and so many Americans telling their stories and pushing for action on canceling student debt.

President Biden can #CancelStudentDebt with the stroke of a pen.

— Chuck Schumer (@SenSchumer) June 9, 2021

The comment reported by Schumer is one of the few Biden has made that indicates he might be willing to cancel $50,000 in student debt. Since the start of his presidency, he has remained firm in his stance that he does not have the executive authority to cancel that amount, and although he has asked the Education and Justice Departments to review his ability to do so, no timeline has been given for when those reviews will be completed.

The $10,000 in debt cancellation that Schumer mentioned comes from a Biden campaign promise. Insider previously reported that while Biden said he would support cancelling $10,000 in student debt, …read more

Source:: Business Insider


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