Biden is facing intense backlash from progressive lawmakers after saying Tuesday he would not sign a measure to forgive up to $50,000 in federally held student debt per borrower through executive action.
During a CNN town hall, Biden shot down the debt forgiveness plan pushed by top Democratic lawmakers and prominent progressives, including Charles Schumer, Elizabeth Warren and Alexandria Ocasio-Cortez.
“I will not make that happen,” Biden said when asked about whether he would support $50,000 in loan forgiveness.
Biden suggested he was against a larger amount of student loan forgiveness because it would benefit borrowers who went to more expensive and elite private universities, “like Harvard and Yale and Penn.” And he expressed concerns that the costs associated with a higher amount of student debt cancellation would make it harder to enact other policies, like free community college and early childhood education.
“Who cares what school someone went to? Entire generations of working class kids were encouraged to go into more debt under the guise of elitism. This is wrong,” AOC tweeted. “Nowhere does it say we must trade-off early childhood education for student loan forgiveness. We can have both.” more