“Biden has begun to take steps toward addressing the $1.7 trillion student debt crisis in the United States.”
What about all the people who paid off their loans? Will they get refunds?
The Hill reports:
Biden still considering cancellation of as much as $50k per person in student debt
White House press secretary Jen Psaki signaled that President Biden is still considering his options on canceling student loan debt in a Monday press briefing.
The questions came after Biden’s chief of staff, Ron Klain, said Biden had been researching his “legal authority” to use executive action on canceling up to $50,000 of student loan debt per person.
Psaki stated that Biden was more than willing to cancel $10,000 in student debt through legislation in Congress but skirted the idea of using executive action to cancel a higher sum.
“I think that would naturally be the first step before it’s a larger amount beyond there,” Psaki said. “What Ron Klain was referring to is the fact that there’s an ongoing review.”
“It’s both a policy review and a legal review — so Department of Education and Department of Justice — to look at what the options are, and what authority could be recommended to the president. So that was the process he’s referring to,” she said.
Biden has begun to take steps toward addressing the $1.7 trillion student debt crisis in the United States.
The Department of Education has recently canceled student debt for about 72,000 defrauded borrowers, as well as for more than 41,000 borrowers who have disabilities.
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