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Saturday, January 28, 2023
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Chuck Schumer says White House ‘More Open’ to Debt Forgiveness

'How does anybody live knowing every month I got to pay this $400? ... '

(Molly Bruns, Headline USA) In a virtual conference Senate Majority Leader Chuck Schumer, D-N.Y., hinted that the White House may be open to cancelling student debt via executive order, as Democrats continue to plummet in polls.

Schumer also said that after President Biden’s extension of the student loan forbearance, wide-scale cancellation of the debt must be the next move, reported the Daily Wire.

“Make no mistake about it: this pause isn’t going to stay forever, and the canceling of student debt is the way to go,” Schumer said.

“We’re working on it,” he added. “We’re making progress, folks. We are making progress. The White House seems more open to it than ever before.”

A report by Common Dreams stated that advocates for student debt cancellation are convincing the president to cancel at least $50,000 per borrower.

Instead of relying on Congress to pass legislation, Biden would have to direct Education Secretary Miguel Cardona to make this action by writing an executive order.

Schumer, who has a net worth of $69 million, cited a statistic from The Hill, which claims families will have an average student debt payment of $393 per month when the pause is ended.

“That is so much money,” Schumer said. “How does anybody live knowing every month I got to pay this $400?”

“You get out of college, and you have all this debt,” he continued. “I have told the president this is one of the most important things he can do to help our economy. We all want the economy to grow. We all want people to have good lives where you can provide for yourself and your family.”

Biden has gone on record saying he would support canceling $10,000 for each student debtor, but would want Congress to pass a measure instead of taking action by executive order.

Biden recently extended the pause on student loan payments to August 31, 2022.

Many Democrats seem to believe that forgiving student loans will be the action that gets them out of trouble in the upcoming midterm elections.

 

 

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