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
Student Debt Relief Web Center
ED Releases Draft Rules to Provide Student Debt Relief for Subsets of Borrowers
Today's News for April 17, 2024
Cardona Faces Pointed Questions on FAFSA Rollout During House Hearing on ED’s FY 25 Budget Proposal
"From a Hardship to a Crisis" - NASFAA Testifies on Current Status of the FAFSA Rollout
Today's News for April 11, 2024
ED to Pause PSLF, TEACH Processing During 3-Month Transition Period
Today's News for April 3, 2024
Biden Signs FY 2024 Budget Into Law With Retention of Pell Grant Funding
Today's News for March 25, 2024
Today's News for March 22, 2024
ED Announces $5.8 Billion in Public Service Loan Forgiveness for 78,000 Borrowers
Bipartisan Senators Urge ED to Delay Gainful Employment and Financial Value Transparency Reporting
Short-Term Funding Bill Would Rescind SAI Formula Change
Today's News for February 29, 2024
NASFAA Signs on to Letter Expressing Opposition to Section 6 of the Bipartisan Workforce Pell Act
Today's News for February 20, 2024
Financial Aid Professionals Reflect on Their Most Recent 2023-24 Virtual Pipeline
Foxx Calls for Cardona to Resign, While Republicans Ramp Up Oversight Efforts on ED
Today's News for February 8, 2024
Legislative Tracker: Institutional Grant & Incentive Programs
Today's News for February 2, 2024
Senate GOP Launches Website for Reporting FAFSA Issues
ED Announces Fourth Neg Reg Session to Provide Debt Relief for Borrowers Facing Financial Hardships
Today's News for February 1, 2024
Top Congressional Democrats Call on Biden Administration to Hold Fourth Neg Reg Session
Today's News for January 29, 2024
Impacts of COVID-19 Relief Funding on Higher Education
Cassidy, Foxx Question ED After Income-Driven Repayment Fixes, Loan Discharges
GOP Introduces Resolution to End New SAVE Student Loan Repayment Plan
Foxx, Cassidy Press ED for Plan on Resuming Student Loan Repayment
Kvaal, Cordray Testify During House Education Subcommittee Hearing
House Education Committee Advances Resolution to End Biden’s Student Loan Forgiveness Plan
Warren and Pressley Demand Answers From SoFi After It Sued to End Student Loan Payment Pause
Senate Republicans Introduce Resolution to End Biden’s Student Debt Cancellation Plan
House Subcommittee Hearing Takes Aim at Biden’s Student Loan Cancellation Plan
Top House Republicans Request Hearing Over Biden’s Student Loan Relief Plan
House Committee Questions Cordray on ED’s Student Loan Portfolio
Senate Hearing Doubles Down on Need for Widespread Student Loan Debt Cancelation
Conservative Panel Contemplates Education Agenda for the Incoming Biden Era
Georgia’s Senate Election Results to Impact Higher Ed Policy
Bipartisan Effort to Combat Student Debt Relief Scams Advances Through Congress
House Democrats Allege ED Intentionally Froze Tool Meant to Assist Defrauded Borrowers
How Democrats Are Angling to Tackle Higher Education in a Post-2020 Landscape
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.
You must be logged in to comment on this page.