The White House was particularly cautious about Biden’s stance, but such moves would be a blessing in disguise for many of the $ 43 million in $ 1.6 trillion in student loans, according to federal figures. It would also be a victory for Democratic and progressive leaders who have long pushed Biden to keep his 2020 campaign promise to “immediately” cancel debts of up to $ 10,000 per student. Biden’s remarks came during a broad meeting Monday at the White House with seven members of the Hispanic Congressional Caucus, according to California lawmaker Tony Cardenas, who was among them. He said in an interview Wednesday that he had asked Biden to extend the moratorium on debt payments until this year, instead of letting it expire on August 31st. “He immediately smiled and said, ‘I’ve expanded in the past and you will like what I do next,’” Cardenas said. “So I said, ‘Okay, great. Next question.’” Cardenas said he then asked to forgive at least $ 10,000 in debt to each student, which he said the parliamentary group believes Biden can do using executive powers. That would rule out the need for legislation from Congress, where there is a Republican opposition. “He said, ‘Yes, I’m exploring doing something on this front,’” Cardenas said. Senate Majority Leader Chuck Schumer, DN.Y., expressed similar optimism Wednesday. “I think the president is moving in our direction. “My conversations with him and his staff have been very fruitful lately,” Schumer said. White House spokeswoman Jen Psaki said Tuesday that during the meeting, “what she reiterated is that she will make a decision before” the current repayment suspension ends on August 31. Biden said he was “considering other options for executive power that should bring relief to those on student loans.” The sweeping student loan pardon is a curse for many Republicans and others who worry about its cost to the government at a time of huge federal deficits. “Desperate polls call for desperate action: Democrats are considering forgiving trillions of student loans,” Sen. Mitt Romney, R-Utah, wrote mockingly Wednesday. “Other bribery proposals: Forgive car loans?” Forgive Credit Card Debt? Do I Forgive Mortgages? And put wealth tax on the super-rich to pay for it all. What could possibly go wrong? ” Cardenas said Biden did not specify when he would take action, nor did he specify what he would do other than say “Soon.” “I had a strong feeling, like my colleagues, that he liked to answer these questions with his body language, with his words, with a smile on his face and to encourage us that we would like what it is. to do. “, Said Cardenas. Cardenas said the question of whether debt relief should be limited to higher-income students, which could reduce the cost of the proposal, did not arise at the White House meeting. He also said that when Biden asked if the pardon should apply to borrowers in private and public schools, he and other lawmakers said they wanted students from both types of institutions to be eligible. Some Democrats fear that lending relief to students attending expensive private universities would be an easy target for Republicans in the fall election to control Congress. Even so, the remarks of several Democrats suggest that a broad effort to alleviate student debt could help the party with minority voters. Cardenas said he told Biden that Hispanic college students typically face higher long-term debt than white students. “We try to help all alumni, but Spanish households and people trying to get back on their feet affect Hispanics at a higher level,” Cardenas said. A spokesman for Raul Ruiz, D-Calif., Chairman of the parliamentary group, said in a separate statement on Wednesday that Hispanic students “are disproportionately bearing the burden of student debt on our nation”. He said the parliamentary group would continue to work with Biden “to ensure that our students have a place at the table in terms of their financial health and well-being”. Schumer sounded the same, saying blacks, Hispanics and other minority voters tend to carry more debt deeper into their lives. “This is not just the right thing to do for our economy. “It’s right for racial equality.” The pandemic prompted then-President Donald Trump and Congress to begin providing student loan relief in March 2020. After initially letting borrowers choose to defer payments for at least 60 days, the moratorium was automatic and eventually extended several times by Trump and later Biden. Interest rates during the suspension were 0%. Also at Monday’s meeting at the White House, Nanette Barragan, a D-California lawmaker, said she told Biden she should let go of Trump-era restrictions that allowed authorities to quickly deport migrants crossing the Mexican border. as scheduled for May 23rd. Other participants in the meeting said Biden had spoken out against the restrictions, but did not say what they would do. Many Democrats oppose these restrictions, which allow the government to cite fears of spreading COVID-19 to reject asylum seekers. Republicans and a significant number of Democrats want the process to remain in place, and its repeal is considered a political vulnerability for Democrats among moderate voters.
AP reporters Kevin Freking and Chris Megerian contributed.
