Biden shuts down plan to wipe out $50k in student-loan debt

President Biden dismissed a Democratic plan to forgive up to $50,000 in student-loan debt. "I'm prepared to write off $10,000 in debt, but not 50," Biden said. "I don't think I have the authority to do it by the sign of a pen." This dismissal comes as many Democrats are urging the president to seek aggressive action to cut student debt.

Biden shuts down plan to wipe out $50k in student-loan debt

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