US NEWS: Biden is looking at student loan exemptions but not $ 50,000

WASHINGTON, April 28 – US President Joe Biden said on Thursday he would decide whether to pardon a student loan and announce his plans soon.

“I’m thinking of dealing with debt reduction,” Biden told reporters.

“I do not consider reducing the debt to $ 50,000, but I am in the process of considering whether there will be another debt forgiveness, and I will have a response to that in the next few weeks.”

Student debt cancellation has become a priority for many liberal and potentially improving the popularity of young and highly educated voters, who are dependent on the Democratic Alliance, ahead of the November mid-term elections.

But Biden’s management has been reluctant to cancel a college loan held by the US government in an unprecedented way, a move that will test his legal authority.

Instead, Biden has asked Congress to pass a debt relief bill he could sign.

The federal government has allowed 43 million borrowers to stop paying the $ 1.6 trillion student loan since the start of the COVID-19 epidemic in 2020.

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