The NPR Politics Podcast Biden Promised To Cancel $10,000 In Student Debt For All Borrowers. He Hasn't.
Feb 9, 2022
Cory Turner, NPR's education correspondent, dives into the complexities surrounding President Biden's promise to cancel $10,000 in student debt. He discusses the conflicting opinions within the Democratic Party and the legal challenges that could allow for unilateral action on debt relief. Turner also highlights the political risks as midterm elections loom, emphasizing how public sentiment and rising inflation are affecting student loan policies. The conversation unveils the pressing anxieties of millions awaiting clarity on their financial futures.
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Student Loan Debt Crisis
- 40 million Americans hold $1.6 trillion in federal student loan debt, and repayments restart in May.
- Borrowers are stressed, unsure about potential forgiveness plans and the future of their loans.
Authority on Loan Forgiveness
- There's debate about whether the President can unilaterally forgive student loans.
- Senator Elizabeth Warren argues the Higher Education Act grants the Education Secretary this authority.
Biden's Stalled Agenda
- President Biden might be hesitant due to the stalled Build Back Better agenda.
- He may have been waiting for the agenda to pass before tackling student loan forgiveness.