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"I
am considering dealing with some debt reduction," Biden told
reporters.
"I am not considering $50,000 debt reduction, but I'm in the
process of taking a hard look at whether or not there will be
additional debt forgiveness, and I'll have an answer on that in
the next couple of weeks."
Student debt cancellation has become a priority for many
liberals and one that could shore up popularity with younger and
more highly educated voters, who lean Democratic, ahead of
November's critical midterm elections.
But the Biden administration has been reluctant to unilaterally
make an unprecedented cancellation of college debt owned by the
U.S. government, a move that would test his legal authority.
Instead, Biden has asked Congress to pass a bill forgiving debt
that he could sign.
The federal government has let 43 million borrowers stop paying
on a total of $1.6 trillion in student loans since the onset of
the COVID-19 pandemic in 2020.
(Reporting by Steve Holland and Trevor Hunnicutt; Editing by
Chizu Nomiyama)
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