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WH: Biden Has Not Ruled Out Broadly Cancelling Student Debt Through Executive Action

WH: Biden Has Not Ruled Out Broadly Cancelling Student Debt Through Executive Action

Many Americans are struggling to pay off their student loans. According to a 2022 study, 46 Americans currently have some sort of education loan debt.

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This week, Joe Biden paused those debts waiving the interest on them. This is the fourth time he had done so. But many are calling for him to do more, potentially even cancel out all student debt. When asked about the possibility yesterday, Jen Psaki didn’t rule it out.

When asked if the President would potentially extend the pause past the August 31st date, the press secretary responded, “We’ll continue to assess.  And what we look at — while, of course, the economy is in a better state than it is — than it was a year ago, and it’s — we have a strong recovery, we also understand that there are a range of impacts that are still longer lasting because of the pandemic, including the impacts on costs and inflation.”

The reporter followed, “And has the President, at this point, ruled out a possible executive-level cancellation on a widescale of student debt?”

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“He has not ruled out,” Psaki replied, “but I don’t have any update on that.  And I would note that, again, he would encourage Congress to send him a bill cancelling $10,000 in student debt, something that he talked about looking forward to signing on the campaign trail.”

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