President Joe Biden shot down his fellow Democrats’ push to forgive up to $50,000 in federal student debt per borrower.
“I will not make that happen,” the president responded when an attendee at a CNN town hall Tuesday night asked him what he would do to cancel a loan burden of up to $50,000 for millions of Americans.
The comments will disappoint student loan holders waiting to see whether Biden eases their financial strain and congressional Democrats who have urged him to take action. Lawmakers led by Senate Majority Leader Chuck Schumer, D-N.Y., Sen. Elizabeth Warren, D-Mass., and Rep. Ayanna Pressley, D-Mass., earlier this month pushed Biden to cancel $50,000 in debt and argued he had the power to do so without Congress.
