Psaki: Biden executive action on canceling some student debt ‘still on the table’

President Biden’s use of executive action to cancel some federal student loan debt is “still on the table,” according to White House press secretary Jennifer Rene Psaki, who said on Friday that a “decision” could be made in the coming months.

After being asked about earlier remarks by White House chief of staff Ron Klain, Psaki made the remarks during an interview on “Pod Save America.”

Psaki could be heard responding, “Yes, still on the table, still on the table,” amid apparent applause from the audience at the live podcast, which was posted by the platform on Friday.

“We have to then decide whether it’s extended,” she said, referring to the Aug. 31 date for when the hold on student loan debt payments and interest accrual is slated to expire.

Since Joe Biden became president, “nobody has had to pay a dollar, a cent, or anything in student loans,” Psaki claimed. “And if it can help people manage costs in other areas of their lives, that’s something to consider.” That’s an important factor to consider.

Psaki said the moratorium will “either be prolonged or we’ll make a decision, as Ron mentioned, regarding canceling student debt” between now and the end of August.

The current embargo on federal student loan payments was put in place by the Trump administration at the start of the coronavirus outbreak. It has been extended six times since then.

Biden recently extended the moratorium earlier this month in response to rising demand from advocates, borrowers, and members of his own party to do so.

During his campaign, Biden advocated for the cancellation of federal student loan debt and the forgiveness of at least $10,000 per borrower. Some prominent Democrats, though, have urged for him to go much further, canceling up to $50,000 in student loan debt per borrower or completely wiping out federal student loan debt.

The White House has urged Congress to send debt cancellation legislation to Biden’s desk, but Democrats are skeptical of their chances in the 50-50 Senate due to Republican resistance. To overcome procedural impediments, sixty votes would be required.

 

9 Responses

  1. Have the Democratic Party bring it to a vote instead of using republicans as an excuse than you can point fingers but stop kicking the can and blaming republicans !!

  2. I DISAGREE WITH CANCELING DEBT! WHAT DOES THIS TEACH PEOPLE? DON’T PAY WHAT YOU OWE! YOU “GET OVER” SOMEONE OR SOMETHING.
    WHAT ARE WE TEACHING OUR CHILDREN?? OUR YOUNG ADULTS?

  3. No, absolutely not. People who want to go to school will become stronger when they search out scholarships and grants available to their desired education goals. This is what I did to obtain my social work degrees.

  4. Extending the payments due to current economic conditions is something I can accept. But cancelling that debt altogether is not. An alternative that would help all those with student loans is cancelling all interest on those loans. Interest alone can accrue to the point where the loan would take many more years to pay off. Also, set up a payment schedule that is reasonable and affordable for those trying to repay the loans.

  5. Canceling student debt is not right, they took out the loans, to get an education, they need and must pay it back! When my kids went to college, they worked hard to pay their loans back, so I don’t want to hear that senile old man saying he’s going to forgive any part of these loans! Half of those students probably aren’t even in school now or even finish.

  6. Mr. President You PROMISED to CANCEL STUDENT LOAN DEBT !!!!!! PLEASE keep your promise !!! We are counting on you !!! PLEASE don’t let us down !!!!!

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