President Biden indicated on Tuesday that writing off $50,000 in student debt is not something that he believes can be "done with presidential action," but said he is prepared to eliminate $10,000 for students. He later told CNN during a town hall that he would "not make that happen." A group of Democrats urged Biden to use executive action to forgive $50,000 in federal student debt for all borrowers. Sen. Bill Cassidy, R-La., wrote an op-ed on FoxNews.com Tuesday saying that Republicans "need to have a better answer to calls for debt forgiveness." GET THE FOX NEWS APPMore than 42 million Americans now hold federal student loans amounting to a combined $1.5 trillion, according to Education Department data.

Source: Fox News February 17, 2021 05:26 UTC