(CNN) – President Biden says he is considering writing off some student loan debt, but not as much as Democrats hope.
The president spoke about the issue on Thursday.
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While he said he was looking to expand student loan forgiveness, forgiving $50,000 in loans per borrower, is not in the cards.
“I am considering dealing with some debt reduction,” said President Joe Biden. “I am not considering a $50,000 debt reduction, but I am in the process of taking a hard look at whether or not there will be additional debt forgiveness. And I will have an answer about it in the next two weeks.”
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Biden made a campaign promise in 2020 to forgive up to $10,000 of debt across the board, and Democrats have pushed him to make good on that promise.
Before Thursday, the president passed the responsibility to Congress and called on lawmakers to act on student loan debt forgiveness.
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