In a recent comment on the “Pod Save America” podcast,” press secretary Jen Psaki said student loan cancellation via a potential Biden executive order was “still on the table.” Biden extended the pause on federal student loan repayments through August 31. The campaign promise that catapulted Biden into office centered around cancelling student loan debt. The decision will come in the coming months ahead. However, Biden’s thinking on the issue had not yet been finalized.
Biden has said that broad cancellation should emerge from Congress. However, many lawmakers aren’t optimistic that such legislation could pass in the 50-50 Senate, especially with 60 votes needed to overcome a filibuster. “This is the thing with executive actions — you can go back and forth and overturn them, and obviously we want something in any of these cases where it’s more permanent,” Psaki said during the conversation.
The administration has said that nobody has had to pay anything in student loans since Joe Biden has been president. The Whitehouse is saying that their actions on student loans can help people ease the burden of costs in other parts of their lives. It is promising that between now and August 31st, it’s either going to be extended or they’re going to make a decision about canceling student debt.
Biden in recent months has seen his support among millennials and Generations X and Z decline precipitously compared to his stronger standing with the silent generation and baby boomers. They may still remember the promise to forgive up to $10,000 per borrower. Dems have called for Biden to cancel up to $50,000 in student loan debt per borrower.
Student loan repayments were first paused in 2020 by Trump at the beginning of the coronavirus pandemic. Biden has said that the president has broad latitude to wipe out student loan debt. The midterm elections are approaching fast. Some Dem lawmakers have become increasingly concerned that Biden’s inaction on student loan cancellation may cause a blow to younger voters at the polls this November.
##
