Why Biden is resisting the pressure to cancel $50,000 in student loan debt per borrower
CNN
Democratic lawmakers continue to urge President Joe Biden to cancel $50,000 for each of the 43 million federal student loan borrowers -- something he has shot down repeatedly. Here are a few reasons why Biden may be resisting the pull from the left wing of his party.
Lawmakers within his party continue to put the issue front and center, urging the President to cancel $50,000 for each of the 43 million federal student loan borrowers -- something he has shot down repeatedly, including on Thursday.
Biden has already canceled more student loan debt than any other president by making it easier for students defrauded by for-profit colleges or those working in the public sector to receive forgiveness through existing relief programs. The President also recently extended the pandemic-related payment pause for a fourth time under his administration -- moving the expiration date from May 1 to August 31.
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