The administration will make a decision about using executive action to cancel student debt before payments resume, the White House chief of staff said.
Lawmakers have criticized the Biden administration because the Department of Education has not released a memo — which itindicated that he was “unlikely”
to eliminate $50,000 in student loan debt per person. During his presidential campaign, he said he supported passing legislation forgiving $10,000 of debt per person. Widespread loan forgiveness would make a significant dent in the racial wealth gap, as Black undergraduates are more likely than any other racial group to have to borrow money to pay for college — andfrom the American Council on Education.
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