Pelosi: Biden Doesn’t Have Power to Forgive Student Loans

House Speaker Nancy Pelosi (D-Calif.) said Wednesday that President Joe Biden does not have the legal authority to forgive federal student loans in what appears to be a disagreement with other top Democrats. For months, Senate Majority Leader Chuck Schumer (D-N.Y.) has issued near-daily tweets insisting that Biden forgive all student loans. But during a weekly press conference, Pelosi said Biden can only pause or delay student loan payments and cannot unilaterally cancel them. “He can postpone, he can delay, but he does not have that power,” Pelosi told reporters. “That would best be an act of Congress.” Schumer and other progressive Democrats have argued that Biden can forgive student loans using the same legal provision that former President Donald Trump used to delay payments on loans and interest starting in March 2020 amid the COVID-19 pandemic. The recent comments from Pelosi are sure to trigger pushback from some Democrat …Read More

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