Schumer, Warren push Biden to cancel $50,000 in student debt
Senate Majority Leader Chuck Schumer and Sen. Elizabeth Warren, D-Mass., issued a joint statement Wednesday urging Biden to cancel $50,000 in student debt.
"An ocean of student loan debt is holding back 43 million borrowers and disproportionately weighing down Black and Brown Americans," the statement says.
This push comes as the House held a hearing earlier Wednesday on reparations for Black Americans and after Biden said in a town hall Tuesday night that he would not cancel $50,000 in student debt.
"I will not make that happen," Biden said after a member of the audience said his proposal to cancel $10,000 per borrower doesn't go far enough.
Biden did say community college should be free, as should state school education for families making less than $125,000. He also expressed support for repaying debt as a portion of one’s salary.
“Presidents Obama and Trump used their executive authority to cancel student loan debt," the joint statement says. "The Biden administration has said it is reviewing options for cancelling up to $50,000 in student debt by executive action, and we are confident they will agree with the standards Obama and Trump used as well as leading legal experts who have concluded that the administration has broad authority to immediately deliver much-needed relief to millions of Americans."
-ABC News' Mariam Khan and Justin Gomez