Biden said he supported the elimination of thousands of dollars in student loan debt during the 2020 election.
President Joe Biden will not include a plan to reduce student loan debt in a speech on Tuesday outlining how his administration aims to tackle the racial wealth gap in the U.S. Biden will give the speech in Tulsa, Oklahoma during a visit commemorating the 100th anniversary of the Tulsa race massacre of 1921 but his remarks will not include student loan forgiveness, according to CNBC. On the campaign trail in 2020, Biden expressed support for a program that would forgive $10,000 of student loan debt for every year of national or community service, up to $50,000 but the White House has not yet published a plan. In April, White House chief of staff Ron Klain said that Biden had directed the Department of Education to prepare a memo outlining the president’s power to eliminate student debt by executive action. Some Democrats, including Senate Majority Leader Chuck Schumer and Senator Elizabeth Warren, have argued that Biden has the power to cancel student debt without recourse to Congress but Biden has appeared reluctant to take executive action.
