The president said he would have an answer on forgiving additional debt in the 'next couple of weeks.'
— President Biden said he is"taking a hard look" into forgiving some federal student loan debt on Thursday, but the amount he is considering is less than $50,000 per borrower, lower than some top Democrats have been seeking since he took office.
The president said he would have an answer on forgiving additional debt in the"next couple of weeks."looking to cancel student loan debtDemocratic Rep. Tony Cardenas of California, who attended the meeting, said the president never mentioned a specific amount he was looking to cancel, but said he was open to forgiving debt for borrowers regardless of whether they attended private or public institutions.
During his presidential campaign, Mr. Biden said he would cancel $10,000 in student loan debt and called for Congress to act. He has extended the pandemic-relatedseveral times, most recently through August 31. The White House has previously raised concerns that widespread federal student debt cancellation could face legal challenges if done through executive action, and the president last year asked his team to evaluate his legal options.
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