There Will Be No Forgiveness Of Student Loan Debts: Biden Dropped The Idea On Which His Campaign Was Based
US President Joe Biden refused to issue an executive order that would forgive $ 10,000 to each of the 42 million American students. It is reported that Biden's budget plan does not have a clause on forgiving billions of dollars in debt.
According to Experian, the average student loan debt for individual borrowers increased from $35,620 in 2019 to $38,792 in 2020.
Instead of issuing a personal decree, Biden asks the US Congress to make this decision on its own.
The funny thing is that it was on this false promise that Joe Biden's entire presidential campaign was built. Former US presidential candidate Elizabeth Warren, member of the "Squad" Rep. Alexandria Ocasio-Cortes and Chuck Schumer pressured Biden to fulfill his promise and free the students from a $ 50,000 debt.
“The idea that you go to Penn and you’re paying a total of 70,000 bucks a year and the public should pay for that? I don’t agree,” Biden said.
This idea was dropped instantly and nothing but "we will consider this proposal" was heard from the Biden administration. After that, Biden looked for "legal" ways not to fulfill the promise, and found it. Now he is dumping his pledges to Congress.
“The President continues to call on Congress to cancel $10,000 in debt for student loan borrowers,” White House press secretary Jen Psaki said.
Image: Gage Skidmore / Flickr