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Biden says he’s not considering $50,000 in student loan forgiveness


U.S. President Joe Biden announces more military and humanitarian assistance for Ukraine, as well as new sanctions against Russia in a speech delivered in Roosevelt Room, White House Washington.

Evelyn Hockstein | Reuters

According to President Joe Biden, he expects to have his response on student loan forgiveness by the end of next week.

Biden stated that he was not interested in reducing debt by $50,000 during his speech at the White House Roosevelt Room. But I’m currently taking an honest look at the possibility of additional debt forgiveness.

“I will have an answer in the next few weeks.”

The comments of the president are unlikely to be disappointing advocates, and some Democrats including Senate Majority leader Chuck Schumer from New York who have been pushing for him to cancel $50,000 per borrower.

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