Biden administration reviewing whether it could forgive student debt by executive action
For the first time, the White House on Thursday indicated the Biden administration is looking into using executive action to cancel at least some student debt.
"The president continues to support the canceling of student debt to bring relief to students and families," White House Press Secretary Jen Psaki tweeted. "Our team is reviewing whether there are any steps he can take through executive action, and he would welcome the opportunity to sign a bill sent to him by Congress."
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Senate Majority Leader Chuck Schumer (D-N.Y.), Sen. Elizabeth Warren (D-Mass.), and Rep. Ayanna Pressley (D-Mass.) all believe he does, and on Thursday they reintroduced a resolution from December asking Biden to cancel up to $50,000 in debt for all federal student loan borrowers. "There is very little that the president could do with a flick of a pen that would boost our economy more than canceling $50,000 in student debt," Schumer told reporters. "This is one of those things the president can do on his own."
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