The Biden White House is reportedly deciding whether or not it should “cancel” up to $10,000 in student debt for borrowers — a decision that is expected to come Wednesday.
Student debt has remained a highly contested topic even among Democrats, as President Biden has continued to kick the ball down the road, simply continuing the Trump administration’s decision to postpone student loan payments due to the Chinese coronavirus pandemic.
As a result, many borrowers have not made a payment in well over a year, and many hope they may never have to again as far-left Democrats continue to put pressure on Biden to cancel student loan debt, or at least a sizable portion of it.
One source told CNN that the Biden White House is set to make an announcement on Wednesday as the White House weighs canceling up to $10,000 in student loan debt for individuals making less than $125,000 annually:
In addition to that baseline of student loan debt forgiveness for individuals who fall under a certain income level, administration officials have also recently discussed the possibility of additional forgiveness for specific subsets of the population, according to sources familiar with internal discussions in the administration.
It still remains unclear how the White House will handle the continued pause on student loan payments, which are set to resume in September.
As a result of the chatter, #CancelStudentDebt has been trending on Twitter. Radical left Rep. Cori Bush (D-MO), for instance, is demanding Biden cancel student loan debt, tethering it to the pursuit of “racial, gender, and economic justice.”
“Student debt cancellation is a kitchen table issue and @POTUS must #CancelStudentDebt,” fellow far-left Rep. Ayanna Pressley (D-MA) said.
Sen. Elizabeth Warren (D-MA) is among those who has long called for Biden to take action on canceling student loan debt, and her cries continue.
“President Biden should #CancelStudentDebt to: help narrow the racial wealth gap among borrowers, provide relief to the 40% of borrowers who never got to finish their degree, and give working families the chance to buy their first home or save for retirement,” she said. “It’s the right thing.”
“If we can bail out Wall Street after their greed, recklessness, and illegal behavior drove us into the worst recession in modern history, then YES — we absolutely can cancel every single cent of student debt in this country,” Sen. Bernie Sanders (I-VT) agreed:
Biden’s expected Wednesday announcement will come two months ahead of the midterm elections — a move that Democrats surely hope curries favor with the general populace as Democrats fight to maintain their majorities in both the House and Senate.
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