Biden’s Bad News For Student Loan Forgiveness

Young Americans aren’t happy.

Top GOP senator Chuck Grassley (R-IA) recently reiterated the words of Speaker of the House Nancy Pelosi and admitted that President Joe Biden does not have to power to forgive student loan debt even through executive order.

According to Yahoo News, During a recent Senate Judiciary Committee hearing Grassley stated, “Several members on the other side of the aisle have urged the Biden administration to cancel $10,000 to $50,000 in student loan debt — this is a questionable idea.”

Grassley then reminded Democrats that even House Speaker Nancy Pelosi admitted the facts.

Grassley added that Biden “lacks the authority to do this, even Speaker of the House [Nancy] Pelosi herself recently said, and I want to quote: ‘The President can’t do it.’ So that’s not even a discussion.” 

Pelosi received a lot of anger from fellow Democrats for admitting Biden can’t do anything to forgive the student loan debt of millions of people.

“People think that the President of the United States has the power for debt forgiveness — he does not,” Pelosi said a week ago. “He can postpone, he can delay, but he does not have that power. That would have to be an act of Congress.”

Share your thoughts in the comments below…

* Additional Disclaimer: All content provided by this newsletter is for informational and educational purposes only and is not meant to represent trade, investment, or healthcare recommendations.