President Biden is considering erasing at least $10,000 of debt per borrower for those with federal student loans.
“But the door has been open to possibly larger,” a source told The Hill. “Lots of options on the table. They are doing a lot of listening right now.”
The source added that there’s been no timeline set yet on when the president will act.
Biden once alluded to getting rid of all student loan debts but it seems he’s not going all the way.
Some Democrats have been pressing him to cancel as much as $50,000.
“I am considering dealing with some debt reduction. I am not considering $50,000 debt reduction,” Biden said at the White House.
“But I’m in the process of taking a hard look at whether or not there are going — there will be additional debt forgiveness, and I’ll have an answer on that in the next couple of weeks.”
Should he cancel $50,000 or is $10k enough?