WH says review of student loan debt options is ‘ongoing’
Jen Psaki declined to say whether the president would have an answer by Wednesday
White House Press Secretary Jen Psaki declined to say whether the administration’s review of student loan forgiveness options would be concluded in time for President Biden’s address before lawmakers on Wednesday.
When asked by a reporter during Tuesday’s press conference whether Biden would have an answer that would make Senate Majority Leader Chuck Schumer, D-N.Y., "happy," Psaki said she hoped other parts of the speech would achieve that goal.
"The review is ongoing – hopefully we will make Leader Schumer happy in other ways in the speech, but the review is ongoing," Psaki said.
Schumer and other Democrats have called for canceling $50,000 worth of student loan debt, which Biden has previously opposed. He has called for cancelling $10,000.
WHY YOU SHOULD CONSIDER REFINANCING PRIVATE STUDENT LOANS
The president has asked U.S. Education Secretary Miguel Cardona for a legal review of options to enact widespread student loan forgiveness, including whether measures could be carried out via executive action without congressional authorization.
Schumer, along with other prominent Democrats like Sen. Elizabeth Warren, D-Mass., have voiced the opinion that Biden could lawfully move forward with cancelation via executive action.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Upon the invitation of House Speaker Nancy Pelosi, D-Calif., Biden will make his first address to a joint session of Congress on Wednesday just days before his 100th day in office on Friday.