Biden says he's not considering $50,000 in student loan ...

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“But I am in the process of taking a hard look at whether or not there will be additional debt forgiveness.”. SkipNavigationMarketsBusinessInvestingTechPoliticsCNBCTVWatchlistInvestingClubPROMenuKeyPointsPresidentJoeBidensaidThursdaythathe'llmakehisdecisionaroundstudentloanforgivenesswithinacoupleofweeks."I'mnotconsidering$50,000indebtreduction,"Bidensaid."ButIamintheprocessoftakingahardlookatwhetherornottherewillbeadditionaldebtforgiveness."U.S.PresidentJoeBidenannouncesadditionalmilitaryandhumanitarianaidforUkraineaswellasfreshsanctionsagainstRussia,duringaspeechintheRooseveltRoomattheWhiteHouseinWashington,April28,2022.EvelynHockstein|ReutersPresidentJoeBidensaidThursdaythathe'llhavehisansweronstudentloanforgivenesswithinacoupleofweeks."I'mnotconsidering$50,000indebtreduction,"BidensaidduringaspeechintheRooseveltRoomattheWhiteHouse."ButIamintheprocessoftakingahardlookatwhetherornottherewillbeadditionaldebtforgiveness.VIDEO2:2002:20StudentloanpaymentfreezeextendedthroughendofsummerTheNewswithShepardSmith"I'llhaveanansweronthatinthenextcoupleofweeks."Thepresident'scommentsarelikelytodisappointadvocatesandsomeDemocrats,includingSenateMajorityLeaderChuckSchumerofNewYork,who'vebeenpushinghimtocancel$50,000ormoreperborrower.Thecountry'soutstandingeducationdebtbalanceexceeds$1.7trillionandposesalargerburdentohouseholdsthancreditcardorautodebt.Roughlyaquarterofstudentloanborrowers—or10millionpeople—areestimatedtobeindelinquencyordefault.Bidendidn'tsayhowmuchofthedebthewasconsideringerasing,althoughonthecampaigntrailheexpressedsupportfor$10,000inrelief.Canceling$10,000perborrowerwouldwipeout$321billionoffederalstudentloans,andeliminatetheentirebalancefornearly12millionpeople.Around70%ofstudentloanborrowerswouldstillbeleftwiththedebt.WisdomCole,thenationaldirectoroftheNAACPYouth&CollegeDivision,saidallstudentdebthadtobecanceledforthecrisistoberesolved."FortheBlackcommunity,who'veaccumulateddebtovergenerationsofoppression,anythinglessisunacceptable,"Coletweeted.Thisisbreakingnews.Pleasecheckbackforupdates.TVWATCHLIVEWATCHINTHEAPPUPNEXT|ETListenTVWATCHLIVEWATCHINTHEAPPUPNEXT|ETListen



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