Biden taking ‘hard look’ at pupil mortgage forgiveness – Capital Gazette

WASHINGTON — President Joe Biden stated Thursday that he’s “taking a hard look” at canceling extra federal pupil mortgage debt and can attain a call inside a month.

“I am considering dealing with some debt reduction,” Biden instructed reporters within the Roosevelt Room on the White House.

The feedback got here days after Biden had a non-public assembly with Democratic lawmakers who pressed him on the problem. One of the lawmakers, Rep. Tony Cardenas, D-Calif., stated afterwards that Biden disclosed he was exploring the likelihood.

However, Biden signaled in his Thursday remarks that he wouldn’t go so far as some activists need, saying $50,000 in debt forgiveness was not into consideration. He didn’t give a quantity for what he was contemplating.

“I’m in the process of taking a hard look at whether or not there will be additional debt forgiveness,” he stated. “And I’ll have an answer on that in the next couple of weeks.”

During his marketing campaign, Biden stated he wished to “immediately cancel” at the very least $10,000 in pupil debt per individual. So far he’s repeatedly prolonged a pause on requiring debtors to repay their loans, a moratorium that was put in place beneath then-President Donald Trump close to the start of the COVID-19 pandemic.

Although activists have been inspired by their growing traction on this concern, some stated they have been involved that Biden wouldn’t go far sufficient.

“President Biden, we agree that we shouldn’t cancel $50,000 in student loan debt. We should cancel all of it,” stated Wisdom Cole, nationwide director of the NAACP Youth & College Division. “$50,000 was just the bottom line.”

White House press secretary Jen Psaki stated Thursday that Biden was nonetheless contemplating whether or not to tie debt reduction to debtors’ earnings ranges, an concept he’s floated previously. She stated it’s “certainly something he would be looking at.”

She rejected criticism from Sen. Mitt Romney, R-Utah, and others that debt reduction quantities to a political giveaway.

Biden’s objective, Psaki stated, is to “continue to provide relief to people who need it most, to help people get some extra breathing room.”

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