Biden will not include student loan forgiveness in annual budget

[Bubba T]

Joe Biden will not include student loan forgiveness in his upcoming Budget, after pledging to cancel $10,000 from loans on the campaign trail.

Biden, who was seen arriving back at the White House on Sunday from a weekend at Camp David, is due to announce his latest budget at the end of next week, and claims he has grown suspicious of wiping out the loans.

The shift in policy is a major blow for the more than 42 million Americans who have student loans.

Biden had been pressured by progressives in the Democrat Party including Elizabeth Warren and Alexandria Ocasio-Cortez to forgive up to $50,000 in debt. Chuck Schumer, the Senate Majority Leader, was also in favor.

In an interview with the New York Times Friday, Biden said he had grown 'suspicious' of canceling the debt.

'The idea that you go to Penn and you're paying a total of 70,000 bucks a year and the public should pay for that? I don't agree,' Biden told the Times.

The White House has previously said Biden wanted to see Congress pass legislation to wipe away student debt, rather than through executive order.

The announcement marks a shift from the White House's previous position last month when Biden's chief of staff Ronald Klain said the president was considering canceling up to $50,000 in debt.

Klain told a Politico Playbook event that Biden has asked Education Secretary Miguel Cardona to figure out if the president has the legal authority to wipe out their balances.

In March, White House press secretary Jen Psaki said they were still 'exploring options' around student loan policy.

'The President continues to call on Congress to cancel $10,000 in debt for student loan borrowers,' she said.

'That's something Congress could take an action on, and he'd be happy to sign.'

Warren had previously called on Biden to wipe away the debt using executive order.

'Biden-Harris can cancel billions of dollars in student loan debt, giving tens of millions of Americans an immediate financial boost and helping to close the racial wealth gap,' Warren Tweeted in November, days after the election was called in Biden's favor.

'This is the single most effective executive action available for a massive economic stimulus.'

In February, AOC attacked Biden for refusing to write off the full $50,000 figure she and Warren had been seeking.

That month, Biden told a CNN town hall attendee, 'I will not make that happen,' when she said $50,000 should be the number and not his proposed $10,000.

The president argued that it would be hard to tell a community he was going to write-off debt from Harvard or Yale instead of investing in childhood education.

AOC complained, saying: 'Entire generations of working class kids were encouraged to go into more debt under the guise of elitism. This is wrong.'

According to Government statistics released in January, 42.3 million people, or one in six adults, in America have a student debt.

The average outstanding loan amount is $36,520.

Biden will drop student loan forgiveness from next week's Budget | Daily Mail Online

Another promise rolled back on by a politician. It's crazy how people keep believing politicians to actually do what they say.

 

[You Win Perfect]

Lmao at thinking the government wants anybody out of debt. They don’t even want themselves out of debt

 

[Blankthawtz]

Piece of shyt.... Main reason I voted for him was so I didn't have to pay back this fukkin loan!.....

 

[Da King]

#bothsides

 

[CarbonBraddock]

Another lying politician. Big surprise. His fakkit ass believed in it when he campaigned on it to get elected

 

[hu3ypdadon]

#bothsides

Even if he did republicans would shoot that shyt down with the quickness..and than he would be accused of having no “bipartisan support “ if only dems vote on passing it..stop being stoopid with this both side shyt bruh..plus he never promised to pass student loan forgiveness during his run

 

[North of Death]

Piece of shyt.... Main reason I voted for him was so I didn't have to pay back this fukkin loan!.....

Malcolm told you a long time ago to STOP FALLING FOR THE OKIE DOKE

 

[hu3ypdadon]

Malcolm told you a long time ago to STOP FALLING FOR THE OKIE DOKE

Republicans would never even PROPOSE student debt forgiveness..If They Was in Power This Would of Never Even been A Topic

 

[MJ Truth]

The government needs you in debt to keep you slaving.

I just recommend anyone without student loans simply cut out ALL of your expenses you possibly can and starve until you get out of debt. It’s really worth it. You don’t even realize how stressful your life is with debt until you’re out of it.

 

[Worthless Loser]

I never expected him to pursue it. The people who know Biden should have expected that too.

That was done during the campaign to appeal to progressives.

 

[King Poetic]

Tell people what they want to hear till they get what they want is nothing new

Biden doing the same thing nikkas do when they tell bytches I love you, I love your kids like they mine, I see u and me as a family and after a few nuts , all that shyt he was saying out the door

 

[richaveli83]

@MoveForward

 

[GodinDaFlesh]

Lots of people are staying home next election if there's no student loan forgiveness. That was lowkey the most decisive issue besides getting Trump out.

 

[™BlackPearl The Empress™]

So he's trying to pass the buck to congress smh

 

[getmoney310cpt]

Typical white man lol