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Biden Exploring Options to Cancel $50,000 in Student Loan Debt


President Joe Biden is exploring his options to cancel $50,000 in student debt loans, after he has said numerous times that he would not make that happen because he didn't believe he has the authority to do so, but is willing to cancel $10,000.

However, during an interview on Thursday, White House Chief of Staff Ron Klain confirmed Biden is exploring his options on canceling a large chunk of student debt and has already asked Secretary of Education to prepare a memo that outlines his potential legal authority to do so.

"Hopefully we'll see that in the next few weeks... He'll look at that legal authority, he'll look at the policy issues around that, and then he'll make a decision," Klain said.

He added that Biden will look at the legal authority and the policy issues around that to make the decision, but has yet to receive the memos to start the process of making the call.

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