White House: Biden to review his authority to cancel student debt
The White House Chief of Staff says President Joe Biden has asked for a legal review of whether he has the authority to enact a wide-scale student loan cancellation.
This comes after an increasing number of Democratic lawmakers pushed President Biden to cancel up to $50,000 worth of student debt.
However, the White House Chief of Staff says Biden has not made a decision about the amount of debt forgiveness. As well, the president has said he thinks canceling $10,000 dollars would be more appropriate.
People who have worked for years to pay off their loans or are looking to take out a new loan will likely not be effected.
There's no word on when the president's legal review will be concluded.
If the Education Department determines the president cannot cancel student loans by executive order, Congress could still pass legislation on student loan forgiveness.