Biden gives strong indication he is willing to cancel some student loans
President Joe Biden “gave his strongest indication yet” that he is nearing a decision to take significant action to relieve student loan debt, The Washington Post is reporting.
In a meeting with House Democrats on Monday, Biden said he is leaning toward debt relief “that could include canceling tens of thousands of dollars in debt for some people,” according to The Post.
Both Biden and his predecessor, Donald Trump, suspended student loan payments and interest as the nation battled the Covid-19 pandemic.
Biden signaled multiple times that he was prepared not only to extend the current moratorium but to potentially take executive actions canceling some of the debt altogether, according to two House members in attendance and two aides briefed on the meeting’s contents, The Post reported.