Mr. Biden will review his authority to write off student debt

Mr. Biden will review his authority to write off student debt


On Feb. 17, the White House said Joe Biden would ask the Justice Department to review his legal authority in writing off student loans, adding that he does not support an unlimited grant of 50,000. dollars per student.

White House press secretary Jen Psaki told reporters that Mr. Biden thinks a grant of more than $ 10,000 should be based on a criterion based on the borrower’s income and the type of debt in question.

“He is not in favor of writing off a $ 50,000 student loan without any restrictions,” Mrs. Psaki said.

“Once your team is in the Ministry of Justice… you will ask them to conduct a reassessment of their legal authority so that they can make executive orders consistent with policy reviews from the Policy Committee. Regarding debt subsidies, ” Ms. Psaki added.

Mr. Biden intended to write off only $ 10,000 for each person and only to write off debt for those who attended public schools, not Harvard or Yale, but the plan was criticized by Democratic lawmakers as “not enough. “.

Senate majority leader Chuck Schumer and Sen. Elizabeth Warren, both Democrats, on Wednesday urged Mr. Biden to write off his $ 50,000 student loan, said the administration “Great authority” to provide relief.

“Huge student loans are hindering 43 million borrowers and weighing disproportionately on colored Americans. The write-off of the $ 50,000 federal student loan debt will help close the racial wealth gap, benefit 40% of non-college borrowers, and help boost the economy, ”they announced. .

The Biden administration’s write-offs for students are sure to face legal challenges in Congress.

Galaxy

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