JOE BIDEN announced last Wednesday his plan to cancel student debt up to $10,000 for qualified borrowers. Of course, the response from Republicans was not long in coming, but one of the most accurate criticisms of his policy had come a few years ago and it came from the least expected mouth, that of Nancy Pelosi.
It turns out that the president will carry out his charge through executive action, although the details and how it would work in terms of implementation are not yet clear.
The curious thing is that the House Speaker was almost a year ahead of the curve on this question. On July 28, 2021, a reporter asked her about the possible cancellation of student loans and possibly her answer is not what the president would want to hear after announcing in public that he will seek to implement such a policy.
“People think that the President of the United States has the power for debt forgiveness. He does not. He can postpone. He can delay. But he does not have that power. That has to be an act of Congress. And I don’t even like to call it forgiveness because that implies a transgression. It’s not to be forgiven, just freeing people from those obligations,” Pelosi said at the time.
“The President can’t do it. So that’s not even a discussion. Not everybody realizes that. But the President can only postpone, delay, but not forgive,” the spokeswoman reaffirmed.
Joe Biden did not yet elaborate on his intentions with student debt, but what he did confirm is that he will cancel up to $10,000 of student debt for all Americans with incomes under $125,000 per year. Additionally, he extended the pandemic freeze on student debt payments until 2023.
However, as reported by the Associated Press, if confirmed, it is possible that his administration could face a number of legal challenges.
Joaquín Núñez es licenciado en comunicación periodística por la Universidad Católica Argentina. Se especializa en el escenario internacional y en la política nacional norteamericana. Confeso hincha de Racing Club de Avellaneda. Contacto: [email protected] // Joaquín Núñez has a degree in journalistic communication from the Universidad Católica Argentina. He specializes in the international scene and national American politics. Confessed fan of Racing Club of Avellaneda. Contact: [email protected]