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Schumer, White House at odds over how to cancel student loan debt
PoliticoSenate Majority Leader Chuck Schumer and the White House are divided over how to move forward in the coming months on a key progressive priority: canceling large swaths of the outstanding $1.5 trillion of federal student loan debt.
The conflict forecasts a looming fight over student loan forgiveness that could be a major test of how far progressives can push President Joe Biden, who has sought to cast himself as a bipartisan dealmaker and unifier.
Biden advisers have repeatedly said they prefer to seek congressional approval to forgive at least $10,000 of debt per borrower, a campaign promise. But Schumer is ramping up efforts to convince the White House to move more quickly and cancel $50,000 of student loan debt per borrower “with the flick of a pen” through executive action.
That pressure from the top Senate leader from Biden’s own party appeared to draw a response from the White House on Thursday. A spokesperson said for the first time that administration officials were entertaining the possibility of executive action on the issue but also reiterated their goal of passing legislation.
The conflict forecasts a looming fight over student loan forgiveness that could be a major test of how far progressives can push President Joe Biden, who has sought to cast himself as a bipartisan dealmaker and unifier.
Biden advisers have repeatedly said they prefer to seek congressional approval to forgive at least $10,000 of debt per borrower, a campaign promise. But Schumer is ramping up efforts to convince the White House to move more quickly and cancel $50,000 of student loan debt per borrower “with the flick of a pen” through executive action.
That pressure from the top Senate leader from Biden’s own party appeared to draw a response from the White House on Thursday. A spokesperson said for the first time that administration officials were entertaining the possibility of executive action on the issue but also reiterated their goal of passing legislation.
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