Biden student loan plan for debt relief for $ 10,000, not $ 50,000

Many Democrats have pushed for $ 50,000 debt relief, but Biden said Tuesday, “I will not make it.”

President Joe Biden said “I won’t do that” on Tuesday when asked during a CNN City Hall how he would increase his student loan debt relief proposal from $ 10,000 to $ 50,000. The response received a negative response from Democrats pushing for the higher amount.

Biden reiterated his call for free community college and free tuition at state universities for students whose families earn less than $ 125,000. He said he was also ready to cut student loan interest.

Sixteen US Senators and 46 members of the House of Representatives have signed a resolution calling on Biden to cancel student loans of $ 50,000 using existing powers under the Higher Education Act. Biden said he doesn’t think he has the authority to do so under executive order. Senate Majority Leader Chuck Schumer, DN.Y., and Senator Elizabeth Warren, D-Mass., Disagreed with this assessment on Wednesday.

“Presidents Obama and Trump used their executive powers to cancel student loan debt. The Biden administration has announced that it is considering options for cutting up to $ 50,000 in student debt through executive action, and we are confident they will agree to the standards that Obama and Trump have used, as well as leading legal experts who are concluded that the government has extensive powers to provide urgently needed aid to millions of Americans immediately, “a joint statement said.

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Biden also said that “it depends on whether or not you go to a private university or public university,” something that drew Rep. Alexandria Ocasio-Cortez, DN.Y..

“Who cares which school someone went to? Generations of working class children have been encouraged to go into debt even more under the guise of elitism. That’s wrong, ”she tweeted.

Biden also pointed out that extensive student loan debt relief could hurt funding for early childhood education programs. Ocasio-Cortez countered: “We can have both.”

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