When Joe Biden was on the campaign trail, he made a variety of leftist-oriented promises that Democrats really liked.
One of those promises involved forgiving student loan debt. Democrat leaders called for forgiving up to $50,000 in debt.
But now, none of that looks like it’ll be happening any time soon.
Not only won’t they forgive $50K, it appears that even $10K is out of the question for now.
According to Yahoo Finance, the Biden administration still faces pressure to “follow through on a campaign promise to forgive $10,000 in federal student loans for every borrower.”
But it seems this won’t be part of the new White House budget.
Via The Daily Wire:
President Joe Biden is reportedly dropping student loan forgiveness, a promise he made during his campaign for POTUS, from this upcoming budget.
Biden’s $10,000 forgiveness promise seems to be ‘off the table’ for this budget, the report added, noting of Biden’s recent interview with The New York Times.
This follows a Washington Post report that says “several” Biden pledges won’t be included in the annual White House budget.
There’s also some question as to Biden’s authority on the matter.
As higher education expert Mark Kantrowitz said (through CNBC):
President Biden is still waiting for the U.S. Department of Justice and the U.S. Department of Education to report on their review of his legal authority to forgive student loan debt through executive order.
Kantrowitz said Biden probably doesn’t have the necessary authority to forgive such massive debt.
But Democrats definitely wanted some student loan forgiveness in Biden’s first 100 days in office. And again, they originally called for $50K.
Biden suggested he wouldn’t go near that number, but $10K was supposed to be possible.
Now, however, the budget won’t feature any sort of loan forgiveness, and Democrats likely see this as significant loss.
The question is whether or not any sort of loan forgiveness will happen during Biden’s term.
If it doesn’t, those who voted for him might feel like Biden hasn’t delivered on one of his most significant campaign promises.
- It looks like Joe Biden won’t be able to deliver on one of his ambitious campaign promises.
- He had considered forgiving federal student loans. Democrats once called for forgiving $50,000.
- There is reportedly no plan for loan forgiveness in the White House budget.
Source: The Daily Wire