{"id":603864,"date":"2021-07-27T14:51:19","date_gmt":"2021-07-27T18:51:19","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=603864"},"modified":"2021-07-27T14:51:21","modified_gmt":"2021-07-27T18:51:21","slug":"citing-racial-inequality-schumer-asks-biden-to-flick-his-pen-and-cancel-50000-in-student-debt","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/citing-racial-inequality-schumer-asks-biden-to-flick-his-pen-and-cancel-50000-in-student-debt\/","title":{"rendered":"Citing \u2018Racial Inequality,\u2019 Schumer Asks Biden To \u2018Flick His Pen\u2019 And Cancel $50,000 In Student Debt"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/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%2Fciting-racial-inequality-schumer-asks-biden-to-flick-his-pen-and-cancel-50000-in-student-debt%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=603864&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\/06\/CS-1-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>Lawmakers asked President Biden to single-handedly cancel student loan debt.<\/span><\/p>\n<p><span>During a Tuesday afternoon press conference, Senate Majority Leader Chuck Schumer (D-NY), joined by Sen. Elizabeth Warren (D-MA) and Rep. Ayanna Pressley (D-MA), stressed the purported economic benefits of pausing \u2014 and outright ending \u2014 federal student loan payments.&nbsp;<\/span><\/p>\n<p>\n<iframe loading=\"lazy\" title=\"Leader Schumer, Sen Warren, &amp; Rep Pressley To Biden: Extend Payment Pause &amp; Cancel Student Debt\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/BY6i7LwzPJI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/p>\n<p><span>Schumer first asked President Biden to extend the federal <\/span><a href=\"https:\/\/www.dailywire.com\/news\/dems-beg-biden-to-act-swiftly-and-extend-student-loan-payment-pause\"><span>pause<\/span><\/a><span> on debt payments \u2014 a proposal that the three lawmakers suggested in June, arguing that the Department of Education\u2019s \u201csuspension of payments and interest during the pandemic has provided essential relief to borrowers and their families during this economic and public health crisis.\u201d<\/span><\/p>\n<p><span>Schumer then suggested that Biden leverage his executive authority to waive tens of thousands of dollars in debt for each borrower.<\/span><\/p>\n<p><span>\u201cWe are also continuing to call on President Biden to use his existing legal authority to cancel up to $50,000 of student debt,\u201d continued Schumer. \u201cThis pause has actually shown how important canceling student debt is to borrowers and to our economy\u2026 ten times over, canceling $50,000 in debt would be even more important and helpful to these folks who are borrowers, to get the economy going, and to deal with the racial inequality which student debt has exacerbated.\u201d<\/span><\/p>\n<p><span>\u201cAll President Biden has to do is flick his pen and sign it,\u201d Schumer said. \u201cMake America a happier, better, more prosperous place. We\u2019re going to keep fighting until this happens.\u201d<\/span><\/p>\n<p><span>Weeks after his inauguration, President Biden drew the <\/span><a href=\"https:\/\/www.dailywire.com\/news\/white-house-backtracks-after-biden-blasted-for-saying-he-wont-forgive-50k-in-student-loan-debt\"><span>ire<\/span><\/a><span> of progressives for shirking the possibility of forgiving student debt \u2014 a promise upon which he had campaigned.<\/span><\/p>\n<p><span>\u201cI understand the impact of debt, and it can be debilitating,\u201d said the Commander-in-Chief during a February town hall. \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<\/span><\/p>\n<p><span>Under authority ceded to him under the Higher Education Act, the White House believes that Biden is able to forgive $10,000 per individual federal student loan borrower through an executive order. As White House Press Secretary Jen Psaki explained at the time, Biden planned to commission a review under the Department of Justice to determine his legal authority to cancel loan payments. Months later, however, student loan forgiveness was entirely left out of President Biden\u2019s first budget <\/span><a href=\"https:\/\/www.cnbc.com\/2021\/05\/24\/student-debt-forgiveness-reportedly-dropped-from-bidens-annual-budget.html\"><span>proposal<\/span><\/a><span>.<\/span><\/p>\n<p><span>As of July 2021, American borrowers <\/span><a href=\"https:\/\/educationdata.org\/student-loan-debt-statistics\"><span>owe<\/span><\/a><span> $1.73 trillion in student loans, with over 43 million Americans in debt by an average of $39,351 each.<\/span><\/p>\n<p><i><span>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 <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>a member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lawmakers asked President Biden to single-handedly cancel student loan debt.During a Tuesday afternoon press conference, Senate Majority Leader Chuck Schumer (D-NY), joined by Sen. Elizabeth Warren (D-MA) and Rep. Ayanna &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-603864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/603864","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=603864"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/603864\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=603864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=603864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=603864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}