Christ Yoder
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President Joe Biden answered questions from Americans at a televised town hall event in Milwaukee, Wisconsin on Tuesday and revealed he does not support Democratic lawmakers’ plan to write off the $ 50,000 debt student loan recipients.
“I won’t make it,” Biden said during the CNN town hall asked about the measure introduced by Progressive Democrats earlier this month. During his campaign for the presidency, Mr. Biden promised to write off $ 10,000 in student loan debt, but did not pledge to write off up to $ 50,000 in debt.
During town hall, Biden said eliminating up to $ 50,000 in student loan debt would take action in Congress. “My point is this: I understand the impact of debt, and it can be debilitating,” Mr. Biden said. “I am ready to cancel the debt of $ 10,000, but not [$50,000], because I don’t think I have the power to do it. “
On February 4, a group of Democrats urged Biden to resort to executive action cancel $ 50,000 at the federal level student loan debt.
Senate Majority Leader Chuck Schumer of New York, Senator Elizabeth Warren of Massachusetts and Representatives Mondaire Jones of New York, Ayanna Pressley of Massachusetts, Ilhan Omar of Minnesota and Alma Adams of North Carolina introduced the measure and argue the Higher Education Act of 1965 gives the White House the power to write off debt without resorting to congressional action.
On the day the measure was introduced, the White House press secretary Jen Psaki tweeted that Mr. Biden “continue to support the cancellation of student debt to provide relief to students and families.”
“Our team is examining if there are any steps he can take through executive action and he would be happy to be able to sign a bill sent to him by Congress,” the tweet continued. Psaki.
On the first day of taking office, Mr Biden signs an executive who took action on student loan debt extend the break on student loan repayments through September.
On his plans to cancel student debt, Mr Biden said during the town hall: “It depends on whether or not you go to a private university or a public university.”
“It depends on the idea that I say to a community, ‘I’m going to forgive the billions of dollars in debt for the people who went to Harvard, Yale, and Penn … is that going to be forgiven, rather than to use that money to provide early education to young children from disadvantaged backgrounds? ”he said.
Mr Biden also said for four years that he offered that everyone could go to community college for free and that students from families earning less than $ 125,000 a year should go to state university for free.
He said he would like to expand the existing student loan cancellation system, under which borrowers working for nonprofits or for the government can request debt forgiveness after 10 years. “For example, if you teach in school, after five years you have $ 50,000 of your debt canceled,” the president said Tuesday.
The president said he would also like to change the current position on debt cancellation so that people can pay off their debt and it does not affect their ability to buy a car or a house. “Every one of my kids graduated from school, I mortgaged the house, I was listed as the poorest man in Congress – no joke – for over 30 years,” he said. Mr Biden said.
Mr Biden said that after earning their undergraduate and graduate degrees, each of his three children was in debt of more than $ 100,000. “I don’t think anyone should have to pay for this, but I think you should be able to get out of it.” He added that he understands how debilitating debt can be and that there is also a question as to what universities are doing with tuition fees.
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