Biden’s been sending some signals that he’s willing to cancel some debt — but it’s unclear how much.
Since assuming office in 2021, President Biden has taken a piecemeal approach to the debt crisis, not only extending the ongoing pause on student loan payments started in the early months of the COVID pandemic, but also:
All told, the Biden administration has canceled about $17 billion in student loan debt already — more than any other president in history.
It’s a racial justice one too. Black families, and especially Black women, are impacted by student loan debt at a disproportionately higher rate than other demographics. Accordingly, canceling student debt could help narrow the racial wealth gap.
Minnesota Rep. Ilhan Omar has been among the progressives leading the charge for at least “some sort of relief.”