Biden Rejects $ 50,000 Student Loan Cancellation Plan, Faces Gradual Backlash | Connect FM | Local news radio
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BY: MARLENE LENTHANG, ABC NEWS
(WASHINGTON) – President Joe biden faces backlash for rejecting a proposal to write off $ 50,000 in student debt and bluntly saying, “I can’t do it.”
At a CNN town hall on Tuesday, a participant asked Biden about Senate Majority Leader Chuck Schumer and Senator Elizabeth Warren proposal to cancel up to $ 50,000 in federal student debt per borrower.
“It depends on whether or not you go to a public university or a private university,” Biden said.
The president said he did not want to forgive the debts of people who attended elite schools such as Harvard and Yale, which often earn high salaries, and added that he would instead prioritize education children for disadvantaged communities.
“I’m ready to write off a debt of $ 10,000, but not 50, because I don’t think I have the authority to do it by signing” an executive order, Biden said.
The president further said families earning less than $ 125,000 and whose children attend state university should attend for free. He also expressed support for debt repayment as part of the salary.
However, his comments drew heavy criticism.
New York Rep. Alexandria Ocasio-Cortez spoke out against Biden’s comments, tweeting: “Who cares what school someone went to?”
She argued that generations of working class children are “encouraged to go into further debt under the guise of elitism”, adding: “This is not true.”
She added that early childhood education doesn’t have to be a compromise with student loan cancellation. “We can have both,” she said.
Massachusetts Rep. Ayanna Pressley also joined the conversation, saying Biden has the power to cancel student debt “with a stroke of the pen”.
“He can and must use it. People deserve nothing less, ”she said.
Minnesota Representative Ilhan Omar also called Biden, saying, “We also need to make college tuition free so that debt doesn’t pile up and invest in universal preschool education. These do not disagree!
White House Press Secretary Jen Psaki noted on Wednesday that Biden previously said any relief over $ 10,000 should be targeted based on the borrower’s income, the type of debt in question, which the school is public or private and if it is for the first cycle or higher education.
“If Congress goes ahead and sends him a package that, you know, provides $ 10,000 in student debt relief, he’d be anxious to sign it,” Psaki said.
Schumer and Warren lobbied and released a joint statement on Wednesday urging Biden to write off up to $ 50,000 in debt.
“A sea of student loan debt is holding back 43 million borrowers and weighing disproportionately on black and brown Americans,” the statement said.
“Presidents Obama and Trump used their executive power to write off student loan debt,” the statement continued.
The Biden administration has said it is considering options to write off up to $ 50,000 in student debt per executive action, and we are confident they will agree with the standards used by Obama and Trump as well as leading legal experts who have concluded that the administration has broad authority to immediately provide much-needed assistance to millions of Americans.
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