President Joe Biden said last week that he will have an answer on the question of student-loan forgiveness in the next couple of weeks.
Ayanna Pressley of Massachusetts told Yahoo Finance that the President has expressed an openness to cancel some debt.
According to The Wall Street Journal, 40 million people have student debt. Federal student-loan payments were paused until August 31 by the Biden administration.
The $50,000 debt reduction that some Democrats, including Pressley, have called for was not considered by Biden. He supports debt forgiveness in the range of $10,000.
The fact that President Biden is expressing openness to some sort of debt cancellation is a testament to the vigilance of this broader movement, the same movement that elected him, Pressley said.
Relief that we can give people in the midst of unprecedented economic hardship as we begin to round the corner and head into a recovery from this recession would make a difference.
If the president makes sweeping changes through executive action, he could face legal challenges, though progressive lawmakers have pushed him to cancel student debt before the elections.
Pressley told Yahoo that any time is a good time to impact the lives of Americans. This is a good policy and politics.
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