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What Joe Biden Said Cancellation Student Loan Debt



There has recently been more and more discussions about President-elect Joe Biden‘s plans to cancel student loan debt when he enters the White House in January next year.

While Biden has not committed to canceling all student debt, his administration will be able to introduce changes that could affect millions of borrowers—although this will also likely depend on who controls the Senate.

In March, Democratic senators Elizabeth Warren and Chuck Schumer called for $10,000 relief for all student borrowers in light of the financial chaos sparked by the coronavirus pandemic—a proposal that Biden later endorsed in a tweet.

By September, they later called for the next president to cancel up to $50,000 in debt and while Biden has not officially committed to this, he has instead proposed a program that offers public service workers $10,000 a year in student loan relief.

He also pledged to make public colleges tuition-free for all families with incomes below $125,000.

Democratic U.S. Senate Minority Leader Chuck Schumer of New York, shown in this September 17, 2020 photograph, has called for student loan relief.
Nicholas Kamm / AFP/Getty

But if the Republicans win, student loan forgiveness will, in all probability, not become law since GOP senators have generally not supported debt cancellation plans, the publication reported.

The Democrats’ next question would be whether student loan debt could be canceled through congressional legislation since the U.S. Constitution grants Congress power to to make laws.

Lawmakers, including Warren, have also argued that the president himself will be able to use an executive order to cancel student loans but this is still unclear from a legal perspective.



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