President Biden has so far canceled just a fraction of the student loan debt that he promised to erase on the campaign trail, but the White House said this week that a broader forgiveness plan is still a possibility.
debt that he promised to erase on the campaign trail, but the White House said this week that a broader forgiveness plan is still a possibility.
US President Joe Biden speaks at the Alumni-Foundation Event Center of North Carolina Agricultural and Technical State University in Greensboro, North Carolina on April 14, 2022. Psaki said the Biden administration will make a decision on whether to further the payment freeze and possible loan forgiveness before the current student debt payment pause ends.
Biden supported erasing $10,000 in student debt for most borrowers during his presidential campaign, but has raised questions about his legal authority to do so via executive order. Last year, the president requested a memo from the Education Department to determine whether he had the power to unilaterally cancel student loan debt.
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