The Departments of Education’s (ED) recent actions concerning targeted student debt relief has brought the issue of broad debt forgiveness back to the forefront, with the department pledging to analyze executive authority on the matter.
President Joe Biden’s Chief of Staff Ron Klein recently said the White House is looking into the administration’s legal authority to cancel student loan debt through executive action. Following that pledge, Education Secretary Miguel Cardona held a meeting with a number of stakeholders who have urged for federal student debt cancelation in order “to find a path forward."
Cardona’s meeting included Senate Majority Leader Chuck Schumer (D-N.Y.) and Sen. Elizabeth Warren (D-Mass.), who have been urging the White House to cancel up to $50,000 in federally-held debt per borrower.
As a first-generation college student, I understand the importance of a plan focused on addressing student loan debt. @SenSchumer, @SenWarren, @DerrickNAACP & I sat down today with students to find a path forward. I’m excited to get to work supporting our students’ futures. pic.twitter.com/iyvNzcgcu2— Secretary Miguel Cardona (@SecCardona) April 1, 2021
The highly anticipated memo will largely determine how the Biden administration proceeds on the issue of debt forgiveness.
For more information surrounding student loan debt relief, be sure to listen to NASFAA’s special "Off The Cuff" episode: All Things Student Loan Forgiveness and stay tuned to Today’s News for more developments.
Publication Date: 4/5/2021