When President-elect Joe Biden was asked whether student loan cancellation figured into his economic recovery plan, he declared, “It should be done immediately.”
“[Student debt is] holding people up,” Biden said on Nov. 16, 2020. “They’re in real trouble. They’re having to make choices between paying their student loan and paying the rent.”
On the campaign trail, Biden had pledged to cancel at least $10,000 of student debt per person.
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