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“We’re Going to Make a Decision”: Psaki Makes a Big Announcement about Canceling Student Debt

Biden recently canceled about $7 billion in student debt loans, using a data-sharing initiative between federal agencies to find those with student loan debt that are disabled and thus unable to pay back their debts to wipe away those debts. Forbes, reporting on that policy, said:

Last year, the Biden administration announced a new initiative to streamline student loan relief for certain disabled borrowers. By allowing the Social Security Administration to share data with the Education Department about borrowers who were receiving Social Security Disability benefits, the administration could identify borrowers who would qualify for the TPD discharge program, and then cancel their student loans automatically.

Today, the administration announced that through this data sharing initiative, the Education Department has cancelled approximately $7 billion in federal student loan debt for 350,000 borrowers.

Biden has also paused repayment of all student debt since he’s been in office and called for legislative action to cancel up to $10,000 in student debt per student. That action has not yet come to pass.

Speaking on what other plans Joe might have regarding student debt cancelation, Psaki, appearing on Pod Save America, said:

Yes, still on the table. … So, as you said, it ends August 31. We have to then decide whether it’s extended and what you look at is, even though the economy’s very strong, we created more jobs last year than any year in history, even though that’s the case, we know, as we’ve been talking about, costs are too high. And certainly, not having to pay back student loans — nobody’s had to pay a dollar, a cent anything in student loans since Joe Biden’s been president, and if that can help people ease the burden of costs in other parts of their life, that’s an important thing to consider. That’s a big part of the consideration. So, between now and August 31, it’s either going to be extended or we’re going to make a decision…about canceling student debt.”

While there has been no legislative action regarding student debt cancelation as of yet, Senate Majority Leader Chuck Schumer recently said that it’s “the way to go” and that Biden is open to the idea, saying:

Make no mistake about it: this pause isn’t going to stay forever, and the canceling of student debt is the way to go.

“We’re working on it. We’re making progress, folks. We are making progress. The White House seems more open to it than ever before.”

Whether the Democrats would actually be able to get that action passed, however, is another matter. While many on the far-left are on board with the plan, there are hints that centrists in the party, namely Joe Manchin, wouldn’t jump on board. As Yahoo News reported:

The question about what to do with an estimated $1.6 trillion in student loan debt is a growing headache for Democrats at a time when families are struggling with higher costs but centrist Democrats led by Sen. Joe Manchin (D-W.Va.) don’t want to further fuel inflation.

So, though Psaki insists it’s still on the table and some disabled people have seen their debt wiped away, whether the plan will move forward is doubtful, particularly if centrists like Manchin and the RINOs like Romney refuse to back whatever plan Schumer and the White House come up with,

By: Gen Z Conservative, editor of GenZConservative.com. Follow me on Parler and Gettr.

This story syndicated with permission from Will, Author at Trending Politics