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Black Caucus Is Lobbying Top Biden Aides on Student Loan Relief

·1 min read

(Bloomberg) -- Members of the Congressional Black Caucus are meeting with senior aides to President Joe Biden on Friday to press their case for canceling at least some federal student loan debt, according to a person familiar with the matter.

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The Black Caucus publicly called on Biden last month to use executive authority to forgive student loan debt, joining many Democratic lawmakers that have lobbied the president to take action before the midterm elections.

Black Caucus Chair Joyce Beatty had requested a meeting with Biden, who is at his Delaware home for the weekend. Senior White House staff have been meeting with various Democratic constituencies, including lawmakers, union leaders and civil rights groups, to get their input and assure them that the White House is seriously looking at what can be done.

Biden has been deliberating for months on the issue. He signaled he was considering forgiving at least $10,000 per borrower, but has resisted demands from some key Democrats to cancel individual debts of as much as $50,000. The White House also suggested forgiveness might be limited to individuals earning less than $125,000 a year.

White House officials didn’t immediately respond to a request for comment.

There is $1.76 trillion in student loan debt in the US, including $1.6 trillion in federal loans. The average federal student loan debt in the US is currently $37,113. Legislation to relieve some of that debt would be blocked by Republicans in the Senate, so Democrats are turning to Biden to act.

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