{"id":538921,"date":"2021-05-24T17:50:51","date_gmt":"2021-05-24T21:50:51","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=538921"},"modified":"2021-05-24T17:50:52","modified_gmt":"2021-05-24T21:50:52","slug":"budget-report-biden-dropping-student-loan-forgiveness-he-promised-during-campaign","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/budget-report-biden-dropping-student-loan-forgiveness-he-promised-during-campaign\/","title":{"rendered":"Budget Report: Biden Dropping Student Loan Forgiveness He Promised During Campaign\u00a0"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbudget-report-biden-dropping-student-loan-forgiveness-he-promised-during-campaign%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=538921&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/04\/fb_image-12.jpeg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>President Joe Biden is reportedly dropping student loan forgiveness, a promise he made during his campaign for POTUS, from this upcoming budget.<\/p>\n<p>\u201cFour months into his term, the pressure remains on Biden to follow through on a campaign promise to forgive $10,000 in federal student loans for every borrower,\u201d Yahoo Finance <a href=\"https:\/\/finance.yahoo.com\/news\/biden-cancel-50k-student-loan-175000729.html\">reported<\/a> this weekend.<\/p>\n<p>However, Biden\u2019s $10,000 forgiveness promise seems to be \u201coff the table\u201d for this budget, the report added, noting of Biden\u2019s&nbsp;recent interview with The New York Times.<\/p>\n<p>\u201cThe idea that you go to Penn and you\u2019re paying a total of 70,000 bucks a year and the public should pay for that? I don\u2019t agree,\u201d Biden <a class=\"x5l\" href=\"https:\/\/www.nytimes.com\/2021\/05\/20\/opinion\/joe-biden-david-brooks-interview.html\" target=\"_blank\" rel=\"noopener noreferrer\">told<\/a> to Times last week.<\/p>\n<p>The Washington Post on Friday, too, reported that \u201cseveral \u2018ambitious Biden campaign pledges\u2019 will likely be left out of the annual White House budget \u2014 including student debt forgiveness,\u201d CNBC <a href=\"https:\/\/www.cnbc.com\/2021\/05\/24\/student-debt-forgiveness-reportedly-dropped-from-bidens-annual-budget.html\">noted<\/a>.<\/p>\n<p>\u201cPresident Biden is still waiting for the U.S. Department of Justice and the U.S. Department of Education to report on their review of his legal authority to forgive student loan debt through executive order,\u201d said higher&nbsp;education expert Mark Kantrowitz, CNBC reported.<\/p>\n<p>Kantrowitz emphasized that Biden likely does not have the authority to forgive such debt, bouncing the issue to Congress. \u201cOnly after he receives that report, which I expect will find that he does not have the legal authority, will the ball be in Congress\u2019 court,\u201d he explained.<\/p>\n<p>Notably, leading Democrats have called for executive action from Biden to wash away up to a stunning $50,000 in federal student loan debt, and they wanted it done in Biden\u2019s first 100 days.<\/p>\n<p>Biden, although the White House later backtracked, has suggested he won\u2019t go near such an amount. As highlighted by <a href=\"https:\/\/www.dailywire.com\/news\/white-house-backtracks-after-biden-blasted-for-saying-he-wont-forgive-50k-in-student-loan-debt\">The Daily Wire<\/a>, the White House has made it clear that \u201cBiden is able, under authority ceded to him under the Higher Education Act, to forgive around $10,000 per individual federal student loan borrower through an executive order, but that forgiving any amount above that must go through Congress.\u201d<\/p>\n<p>The president <a href=\"https:\/\/www.dailywire.com\/news\/white-house-backtracks-after-biden-blasted-for-saying-he-wont-forgive-50k-in-student-loan-debt\">reiterated<\/a> this during a February town hall event:<\/p>\n<blockquote readability=\"20.492091388401\">\n<p><em><a href=\"https:\/\/www.dailywire.com\/news\/ocasio-cortez-fires-back-after-biden-rejects-proposal-to-cancel-50k-in-student-loan-debt?%3Futm_source=facebook&amp;utm_medium=social&amp;utm_campaign=tconservative\">Biden told his audience, in a town hall<\/a> \u2026 that he would not sign on to a plan to forgive $50,000 in student loan debt for individual federal borrowers, telling a questioner, bluntly, that, \u201cI will not make that happen.\u201d<\/em><\/p>\n<p><em>\u201cMy point is: I understand the impact of debt, and it can be debilitating,\u201d Biden said, noting that his children were among those who incurred hundreds of thousands in student debt from undergraduate and graduate studies. \u201cI am prepared to write off the $10,000 debt but not fifty because I don\u2019t think I have the authority to do it.\u201d<\/em><\/p>\n<\/blockquote>\n<p>Unsurprisingly, this did not go over well with fellow radical Democrats.&nbsp;Democratic socialist Rep. Alexandria Ocasio-Cortez (D-NY), for example, went after Biden online.<\/p>\n<p>\u201cThe case against student loan forgiveness is looking shakier by the day,\u201d Ocasio-Cortez wrote. \u201cWe\u2019ve got the *Senate Majority Leader* on board to forgive $50k. Biden\u2019s holding back, but many of the arguments against it just don\u2019t hold water on close inspection. We can and should do it. Keep pushing!\u201d<\/p>\n<p>Senate Majority Leader Chuck Schumer (D-NY) and Sen. Elizabeth Warren (D-MA) publicly agreed with AOC.<\/p>\n<p><strong>Related:&nbsp;<a href=\"https:\/\/www.dailywire.com\/news\/white-house-backtracks-after-biden-blasted-for-saying-he-wont-forgive-50k-in-student-loan-debt\">White House Backtracks After Biden Blasted For Saying He Won\u2019t Forgive $50K In Student Loan&nbsp;Debt<\/a><\/strong><\/p>\n<p><i>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i>member<\/i><\/a><i>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden is reportedly dropping student loan forgiveness, a promise he made during his campaign for POTUS, from this upcoming budget.\u201cFour months into his term, the pressure remains on &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2312862,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/04\/fb_image-12.jpeg","fifu_image_alt":"Budget Report: Biden Dropping Student Loan Forgiveness He Promised During Campaign\u00a0","footnotes":""},"categories":[],"tags":[],"class_list":["post-538921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/04\/fb_image-12.jpeg","fifu_image_alt":"Budget Report: Biden Dropping Student Loan Forgiveness He Promised During Campaign\u00a0","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/538921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=538921"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/538921\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2312862"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=538921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=538921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=538921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}