Biden expected to take steps toward student loan forgiveness abc15
President Joe Biden has signaled he might forgive some student loan debt and further extend the federal moratorium on repayments, a lawmaker who discussed the issue with him said Wednesday.
Cardenas said he then asked about forgiving at least $10,000 in debt for each student, which he said the caucus believes Biden can do using executive powers. That would preclude the need for legislation from Congress, where there is Republican opposition. Sweeping student loan forgiveness is anathema for many Republicans and others concerned about its costs to the government at a time of huge federal deficits.
Cardenas said the question of whether debt forgiveness should be curbed for higher-income students, which could curb the costs of the proposal, did not come up during the White House meeting. He also said when President Biden asked if forgiveness should apply to borrowers who attended private and public schools, he and other lawmakers said they wanted students from both types of institutions to be eligible.
Rep. Raul Ruiz, chair of the caucus, said in a separate statement Wednesday that Hispanic students"disproportionately carry the burden of student debt in our nation." He said the caucus would continue working with President Biden"to make sure our students have a seat at the table when it comes to their financial health and well-being."
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