Biden Administration Inches Closer To Student Debt Relief

President Joe Biden’s administration is “reviewing” what executive actions he could take to cancel some student loan debt, his press secretary said on Thursday, the first time the White House has indicated that the president could move unilaterally on the issue. 

“The President continues to support the cancelling of student debt to bring relief to students and families,” White House press secretary Jen Psaki wrote on Twitter. “Our team is reviewing whether there are any steps he can take through executive action and he would welcome the opportunity to sign a bill sent to him by Congress.”

A Democratic source familiar with the process, speaking on condition of anonymity, said “significant, ongoing” White House review is looking at both the president’s legal authority on the issue and how debt cancellation would influence the economy.

The White House’s review comes amid lobbying from congressional Democrats who are part of a progressive effort to reframe debt cancellation as an all-around economic stimulus rather than a giveaway to the young and wealthy.

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