President Biden said Tuesday night he won’t take executive action to cancel $50,000 worth of student debt per borrower but suggested he would consider wiping out a lesser amount.
“I will not make that happen,” Mr. Biden told a woman at a CNN town hall in Milwaukee who said she was looking for at least $50,000 of debt forgiveness. “I’m prepared to write off $10,000 [of] debt, but not 50.”
The White House said this month that officials were reviewing the steps Mr. Biden could take unilaterally and that the president would “welcome the opportunity” to sign a bill if Congress passes one.
The White House has said Mr. Biden supports canceling up to $10,000 worth of federal student debt per person because of the coronavirus crisis.
Top congressional Democrats, including Senate Majority Leader Charles E. Schumer of New York and Sen. Elizabeth Warren of Massachusetts, say the administration does have the power to cancel up to $50,000 of each borrower’s student debt.