Biden says he is “unlikely” to write off $ 50,000 in student loan debt


President-elect Joe Biden admitted he was “unlikely” to use an executive order to eliminate more than $ 50,000 in student loan debt.

“Arguably the president might have the executive power to write off up to $ 50,000 in student debt,” Biden told a group of newspaper columnists Wednesday, per The Washington Post. “Well, I think that’s pretty moot. I’m not sure. I probably wouldn’t do that.”

“I have spent most of my career arguing against the Imperial Presidency,” Biden continued. “We have three equal branches of government. I am convinced that there are a number of areas which are of such importance that they cross partisan lines.”

In September, New York Senator Chuck Schumer and Massachusetts Senator Elizabeth Warren proposed that if elected, Biden should bypass Congress and use his authority under the Higher Education Act to overturn until $ 50,000 in student loan debt from each borrower. Biden’s remarks seem to suggest he believes it would constitute abuse of power.

During the election campaign, Biden said he would support the forgiveness of $ 10,000 in student loan debt as part of a coronavirus stimulus package. That would imply that the House and Senate could come to an agreement on such a controversial issue, especially after it took them several months to negotiate the terms of the current $ 900 billion stimulus bill.

Although he has taken such a strict stance on how he would prefer to see the student loan debt crisis handled, Biden has at least acknowledged that it is an issue that is crushing the lives of young people.

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