Will Biden eliminate a portion of student debt?

Lagduf

2>X
20 Year Member
According to NPR he can do so by executive action though would prefer legislation.

They were touting eliminating $10K of debt though some in Congress want it to be $50K (side note: pass the legislation then).

I’ll be interested to see if Congress does something other than complain about the presidency this terms. We’ve had that for going on 12 years. Does the legislative branch not realize they are co-equal in power?
 

ebinsugewa

Rosa's Tag-Team Partner
10 Year Member
as much as i think this would be a net good, as the #1 thing holding back younger people from buying houses and starting businesses and so forth is probably student debt, it has almost no chance of coming to fruition i think. there are too many dems who won't hold the line on this one at the moment. i suppose that could change but i doubt it
 

Lagduf

2>X
20 Year Member
Anyone know the mechanism by which Biden could forgive the debt? Why does the president, and not congress, have this “power?”
 

wyo

Mayor of Southtown
10 Year Member
Anyone know the mechanism by which Biden could forgive the debt? Why does the president, and not congress, have this “power?”

The Department of Education has broad legal authority to cancel student debt under the Higher Education Act of 1965. They already do it on a case-by-case basis.
 
Top