It appears that one of Joe Biden’s first orders of business, if and when he takes office, is to  get some student loans forgiven.

Per the New York Post, “A Biden official told Fox News that the president-elect is calling for ‘immediate’ action to forgive $10,000 of student loan debt for borrowers — but that the action should take place in Congress.”

Biden said, “Immediate $10,000 forgiveness of student loans, helping people up there in real trouble. They’re having to make choices between paying their student loan and paying the rent.”

According to Senate Minority Leader Chuck Schumer, Biden actually has the authority to cancel up to $50,000 in loans.  Schumer explained this, saying, “I have a proposal with Elizabeth Warren that the first $50,000 of debt be vanquished, and we believe that Joe Biden can do that with the pen as opposed to legislation.”

The New York Post adds that the reason Biden is aiming for the lower amount is because it will be part of a broader coronavirus relief package.

10 Movies You Definitely Shouldn’t Watch If Coronavirus Scares You

Sign me up for the HOT 95.5/93.1 email newsletter!

Join the HOT VIP Club and you'll get the hottest throwback hip-hop and R&B news, plus insider info on upcoming concerts, contests, and ways to get cash in your pocket!

By clicking "Subscribe" I agree to the website's terms of Service and Privacy Policy. I understand I can unsubscribe at any time.