Senators Elizabeth Warren and Raphael Warnock, together with Majority Leader Chuck Schumer, are requesting a meeting as soon as possible.
Student loans are a major source of contention between Biden and Senate Democrats. Schumer, Warren, and Warnock are urging Biden to forgive up to $50,000 in student loan debt, but Biden is proposing far less relief.
"Forgiveness" is the wrong way to talk about student loan cancelation. That's because it's we, as a nation, who owe the apology — to borrowers — for the dreadful system we've created around paying for college. My column: https://t.co/q7cMCsUVKF
— Ron Lieber (@ronlieber) May 13, 2022
To Excite Electorates
The radical side of the Democrat Party feels massive debt relief will excite the electorate, whilst moderate Democrats support a more balanced approach.
Warnock could gain something from this as he gets ready to face voters in the fall.
Last month, Biden explicitly ruled out eliminating $50,000 in student loan debt, but indicated he is contemplating canceling “some” of the student loan debt.
Schumer and his allies in the Democrat Party have been unyielding, maintaining pressure on Biden to take significant action before the midterm elections and avoid making a move that would be ineffective at the polls.
The White House declined to comment on the matter. There are no scheduled meetings, but a White House source believes President Biden would be open to one.
The Warren campaign representative declined to comment on private talks with the White House. Warren even set up a “war room” to fight against claims that getting rid of student loan debt will be controversial or help the rich too much.
In an appearance last month, Warren made it plain that she wants Biden and Congress to generate significantly more real outcomes for Americans before the November elections, with student loans being the top priority.
“I am intent on the motion. This requires Congress to utilize every available resource. However, this also necessitates the administration to utilize every available resource.”
“It is time for the president to forgive a substantial amount of student loan debt,” she stated.
$10,000 Wouldn’t Be Enough?
The Biden administration has delayed student debt installments through August.
The president himself struck a compassionate tone over the necessity of partial cancellation while advisers investigate how far he can go. His government is examining ways to prevent higher-earning individuals from receiving cancellation benefits.
NEW: The @NAACP is out with its harshest statement yet on Biden possibly canceling just $10,000 in student debt, calling it "a slap in the face."
"We're concerned that the White House just simply doesn't get the devastating impact of student loan debt on Black people." pic.twitter.com/vbBLS8zI4b
— Jeremy Diamond (@JDiamond1) May 13, 2022
Biden is expected to make a statement soon. Senate Democrats want to be among the last people to speak with him before making his decision.
After this article was published, the national director of youth and college for the NAACP, Wisdom Cole, stated “eliminating $10,000 in student debt will not benefit the black community.”
“A cancellation fee of less than $10,000 would be a smack in the face. Our demand for at least $50,000 in cancellation fees is supported by research,” said Cole.
Obviously, there is a danger in upsetting the few fiscal conservatives in the Democrat Party, while portions of Biden’s plan are still pending in Congress.
Some Democrats would want a debt relief statement to be made later in the year, nearer to the elections.
This would allow them more opportunity to discuss a party-line climate and tax overhaul measure without alienating any of their moderates.