There has been a push by the progressive left for the federal government — specifically taxpayers — to “forgive” up to $50,000 in student loan debt per person, and immense pressure has been placed on President Joe Biden by some Democrats to do so via executive order.
In an unexpected display of resistance to the far-left, Biden made it clear Tuesday that he “will not make that happen” through executive action, The Washington Times reported.
The president instead suggested that he would only be willing to use his executive authority to wipe out up to $10,000 of student loan debt per borrower and argued that the funding necessary to cover the remaining debt would be better spent on other priorities related to education.
Biden made the assertion during a CNN town hall in Wisconsin during which a woman in the audience echoed other prominent Democrats in demanding that he take action to forgive outstanding student loan debts for millions of Americans.
“I will not make that happen”
According to CNBC, the woman said, “We need student loan forgiveness beyond the potential $10,000 your administration has proposed. We need at least a $50,000 minimum. What will you do to make that happen?”
“I will not make that happen,” Biden replied. He went on to draw a distinction between whether an indebted student had attended a private or public institution and argued that he wasn’t willing to wipe out the debts of students who attended expensive Ivy League schools like “Harvard and Yale and Penn.”
Instead, Biden suggested, that money should be used to “provide for early education for young children that come from disadvantaged circumstances.” He also reiterated a prior proposal to make two-year community college free for anyone to attend as well as to make four-year public and state colleges tuition-free for people from families earning less than $125,000 per year.
Biden ended the brief discussion, saying, “I am prepared to write off $10,000 [of] debt, but not $50,000” by executive order, as “I don’t think I have the authority.”
It could still happen
Check out the town hall segment below:
New – Biden completely rejects Schumer/Warren proposal to cancel $50K of student loan debt per borrower:
“I will not make that happen.”
Says he doesn’t want to forgive debts of borrowers from elite schools — and money would be better spent on early childhood education. pic.twitter.com/oDwvCJveOm
— Michael Stratford (@mstratford) February 17, 2021
Although some semblance of fiscal conservatism or just common sense from Biden is exciting to see, it must be noted that the president merely rejected demands from the left that he act unilaterally to erase up to $50,000 in student loan debt per borrower.
The fact is, if the Democrat-controlled House and Senate were to pass legislation that used taxpayer funds to wipe out student loan debt, Biden would almost certainly sign such a bill into law.