Biden Mulling Cancels Student Loans: Here’s Who May Qualify

President Joe Biden is reportedly considering ways to cancel some student loan debt amid continuing calls from Democrats.

According to CBS News, Biden met with several members of the Congressional Hispanic Caucus Tuesday, where talks were held about a possible plan to cancel a large amount of student loan debt.

CBS News’ report comes shortly after the U.S. Department of Education announced it will immediately cancel federal student loan debt for 40,000 borrowers under the Public Service Loan Forgiveness (PSLF) program, and cites “historic failures in the administration of federal student loan programs “. “

While it’s currently unclear who would immediately qualify for student-loan forgiveness, California Democratic Assemblyman Tony Cardenas, who attended Tuesday’s meeting, told CBS News that Biden is open to student-loan debt relief for federal borrowers signaled that they were visiting either a private or a public establishment.

Debt on student loans
US President Joe Biden recently spoke to the Congressional Hispanic Caucus, where discussions focused on canceling student loan debt. Above are student debtors calling on Biden to cancel student loan debt outside the White House on April 27, 2022 in Washington, DC.
Paul Morigi/Getty

During an interview with CBS News, Cardenas said Biden did not mention a specific amount he would cancel, “nor did the president say he would pay off all student debt.”

“He had a dialogue with us about the difference between young people going to public or private schools and we CHC members told him to focus on both. And he said, ‘OK, good to know,'” Cardenas told CBS News.

When speaking to the Washington PostCardenas also noted that Biden was “incredibly positive” about the Democratic representative’s calls for him to cancel federal debt on student loans worth $10,000 per borrower.

If Biden is to take action to eliminate student-loan debt, it’s possible he could follow a similar path his administration took earlier this month when 40,000 borrowers were relieved. As part of this action, teachers, military members and healthcare workers with 10 years of federal loan payments were canceled immediately. In addition, the plan offered 3.6 million borrowers credit for income-based repayment waiver (IDR) for at least three years.

Since the beginning of the COVID-19 pandemic, the federal government has continued to suspend federal student loan payments. Earlier this month, Biden again extended that pause through August 31.

During a news briefing Monday, White House Press Secretary Jen Psaki was asked about Biden’s possible cancellation of all student loans.

“What I want to tell you is that since the president took office, not a single person in this country has paid a dime on student loans,” Psaki said. “And what we said is that before this student loan pause was up, he would make a decision about canceling student debt, but I don’t have anything to predict at this point.”

news week has reached out to the White House for comment. Biden Mulling Cancels Student Loans: Here’s Who May Qualify

Rick Schindler

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