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On student debt, Biden supporters are 'growing impatient'

Some of those hoping President Biden might still move to reduce student debt are beginning to waver in their faith, The Wall Street Journal reported Wednesday. 

"It's become this unmanageable beast for me," said Melanie Kelly, 38, who voted for Biden in 2020. "A lot of people are not going to vote again because they feel like they're not being heard," she added.

Though supporters have praised the temporary extension of the pause on loan repayments, they are nonetheless "growing impatient," writes the Journal.

"I have no faith in Biden at all on this issue," said Ryan Velez, 36, another Biden voter, who also criticized a provision prohibiting the discharge of private student loans through bankruptcy. "Taking away bankruptcy protections has obliterated any person's hope who gets in this debt trap of getting out."

And with legislative efforts to forgive student debt failing in Congress, lawmakers have also begun turning up the presidential pressure.

"He must do this," said Sen. Elizabeth Warren (D-Mass.). "It's the right thing for generational equality; it's the right thing for racial equality; and it's the right thing for strengthening our economic future."

Per data firm MeasureOne, "Americans owe around $1.6 trillion in federal student loans and more than $130 billion in private student loans," the Journal writes. Around 43 million have student debt.

Whether or not Biden even has the power to cancel student debt has also proved controversial among his allies, the Journal notes. Some believe the move would "energize young voters," while others think caution and a punt to Congress are better suited for the situation.

Meanwhile, White House officials maintain that Biden supports legislation to eliminate $10,000 in student debt per borrower — even if that has yet to happen. Read more at The Wall Street Journal