President-elect Joe Biden admitted that it is “unlikely” that he will use executive order to clear more than $ 50,000 in student loan debt.
“It is questionable whether the president has executive authority to cancel up to $ 50,000 in student debt,” Biden told a group of newspaper columnists on Wednesday. Per The Washington Post. “Well, I think that’s pretty questionable. IM not sure.
“I’ve spent most of my career arguing against the imperial presidency,” Biden continued. “We have three equal branches of government. I am confident that there are a number of areas that are so significant that they go beyond the boundaries of the partisans.”
In September, New York Senator Chuck Schumer and Massachusetts Senator Elizabeth Warren suggested that if elected, Biden should bypass Congress and use his powers under the Higher Education Act to add up to $ 50,000 in student loan debt to each borrower enact. Biden’s remarks seem to indicate that he believes this is an abuse of power.
During the campaign, Biden said he would help pay off $ 10,000 in student loan debt as part of a coronavirus stimulus package. That would mean the House and Senate could reach an agreement on such a divisive issue, especially after taking several months to negotiate the terms of the current $ 900 billion stimulus bill.
While Biden was so strict about how he would like the student loan debt crisis to be handled, Biden at least admitted that this is an issue that is crushing young people‘s lives.
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