President Rejects Plan To Wipe Out $50K In Student Debt

President Biden, during a CNN Town Hall, stated he cannot unilaterally cancel federal student loan debt but is open to forgiving $10,000 per borrower. The White House supports legislative action for broader forgiveness and is reviewing executive options. Meanwhile, Biden has paused federal loan payments and waived interest until September 30th.

What did President Biden say about his power to cancel federal student loan debt?

• He has already canceled all federal student loan debt.

• He can cancel all student loan debt unilaterally.

• He cannot cancel federal student loan debt unilaterally.

• He plans to cancel $50,000 of student loan debt per borrower.

How much student loan debt is President Biden willing to forgive per borrower?

• $10,000

• $5,000

• $50,000

• $20,000

What did Jen Psaki say about the administration's stance on student loan forgiveness?

• The administration is not considering any student loan forgiveness.

• The administration opposes any form of student loan forgiveness.

• The administration supports legislation from Congress for student loan forgiveness.

• The administration has already passed a law for student loan forgiveness.

What action has President Biden taken regarding federal student loan payments?

• He has increased the interest rates on student loans.

• He has paused all federal student loan payments and waived interest until September 30th.

• He has reduced the student loan payments by half.

• He has canceled all federal student loan payments permanently.

Until when has President Biden paused federal student loan payments?

• June 30th

• March 31st

• September 30th

• December 31st