Biden To Erase Student Loan Debt?

Photo by Towfiqu barbhuiya on Unsplash

Many people are furious.

Speaking to a group of activists on Wednesday (April 13), Senate Majority Leader Chuck Schumer (D-N.Y) revealed that President Joe Biden and his advisers were “more open to it than ever before.”

Schumer, a vocal proponent of canceling up to $50,000 of student loan debt per borrower, announced he believed the President would ultimately end up deciding to cancel the debt.

During the virtual State Student Debt Summit, Schumer noted that he had spoken to Biden “on this issue a whole bunch of times,” adding that he told Biden “that this is more important than just about anything else that he can do on his own.?

Schumer then announced that there was “progress” before stating that “The White House seems more open to it than ever before.”

His statements come a week after the Department of Education announced it would be extending the student loan repayment, set to expire in May, until the end of August, something some Democrats believe is insufficient.

During the virtual summit, Schumer brought up the pause, saying, “Don’t get me wrong, the pause is a good thing, but it ain’t enough. It ain’t close to enough.”

He then mentioned that, on average, families would have to repay $393 once the pause lifted, saying that “This is so much money,” and questioning how anybody could “live knowing every month I got to pay this $400?”

He concluded, “So the pause has stopped that, but make no mistake about it, this pause isn’t going to stay forever, and the canceling of student debt is the way to go.”