By Chris Megerian
President Joe Biden said Thursday that he's “taking a hard look” at canceling additional federal student loan debt and will reach a decision within a month.
“I am considering dealing with some debt reduction,” Biden told reporters in the Roosevelt Room at the White House.
The comments came days after Biden had a private meeting with Democratic lawmakers who pressed him on the issue. One of the lawmakers, Rep. Tony Cardenas, D-Calif., said afterwards that Biden disclosed he was exploring the possibility.
However, Biden signaled in his Thursday remarks that he wouldn't go as far as some activists want, saying $50,000 in debt forgiveness was not under consideration. He did not give a number for what he was considering.
“I'm in the process of taking a hard look at whether or not there will be additional debt forgiveness,” he said. "And I’ll have an answer on that in the next couple of weeks.”
During his campaign, Biden said he wanted to “immediately cancel” at least $10,000 in student debt per person. So far he's repeatedly extended a pause on requiring borrowers to repay their loans, a moratorium that was put in place under then-President Donald Trump near the beginning of the COVID-19 pandemic.
Although activists have been encouraged by their increasing traction on this issue, some said they were concerned that Biden wouldn't go far enough.
“President Biden, we agree that we shouldn’t cancel $50,000 in student loan debt. We should cancel all of it,” said Wisdom Cole, national director of the NAACP Youth & College Division. “$50,000 was just the bottom line.”
Addressing the nation from the Oval Office, President Joe Biden has made his case for major U.S. backing of Ukraine and Israel in a time of war.
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.
Despite deepening opposition, Rep. Jim Jordan is expected to try a third vote to become House speaker, even as his Republican colleagues are explicitly warning the hard-edged ally of Donald Trump that no more threats or promises can win over their support.
Donald Trump is winning over swing state voters including in several states even leaning toward President Joe Biden, according to a recent poll by Bloomberg and Morning Consult.
A Russian-American journalist working for a U.S. government-funded media company has been detained in Russia and charged with failing to register as a “foreign agent,” her employer said Thursday.
Lawyer Sidney Powell pleaded guilty to reduced charges Thursday over efforts to overturn Donald Trump’s loss in the 2020 election in Georgia, becoming the second defendant in the sprawling case to reach a deal with prosecutors.
Republican Rep. Jim Jordan failed again Wednesday on a crucial second ballot to become House speaker, the hard-fighting ally of Donald Trump losing even more GOP colleagues who refused to give him the the gavel.
Former Treasury Secretary Jack Lew testified at his own confirmation hearing for the role of U.S. Ambassador to Israel.
The Pentagon has released video of what it calls coercive and risky maneuvers conducted by Chinese jets, saying there have been over 180 incidents that have fallen into this pattern.
The Pentagon has released videos of what it calls coercive and risky maneuvers conducted by Chinese jets, saying there have been over 180 incidents that have fallen into this pattern.
