Biden Dashes Prospect of Massive Student Loan Debt Forgiveness Through Executive Action

By Hugh T. Ferguson, NASFAA Staff Reporter 

President Joe Biden during a recent town hall signaled a willingness to tackle student loan debt as a part of efforts to combat the ongoing pandemic, but panned the prospect of the executive branch offering large-scale forgiveness as proposed by a number of congressional Democrats. “I'm prepared to write off the $10,000 debt, but not $50,000,” Biden said during a Tuesday night town hall. “Because I don't think I have the authority to do it by signing with a pen.”

While Congress could still hash out a debt relief proposal in future pandemic-related aid packages or another legislative vehicle, left-leaning members of the Democratic wing have, as recently as Wednesday, called on Biden to unilaterally tackle student loan debt forgiveness, which due to narrow majorities face long odds in either legislative chamber.

Stay tuned to Today’s News for more coverage of debt forgiveness efforts.


Publication Date: 2/18/2021

Sharon B | 2/23/2021 10:13:43 AM

I believe we have to think about those students who did work hard to pay off their student debts right away and did not leave them linger. Is the debt forgiveness fair to them?

Holly G | 2/22/2021 11:46:45 AM

If Biden needed a more palatable loan forgiveness option, why not open PSLF to payments made under the FFELP program. That program is already in place and for those who oppose it, it would give them something in exchange. They would be getting something for their money so to speak.

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