Biden dismisses a Democratic plan to wipe out $50,000 in federal student loan debt
Biden rejected a Democratic proposal unveiled by Sens. Elizabeth Warren and Chuck Schumer earlier this year. He supports $10,000 in loan forgiveness.
President Joe Biden effectively rejected on Tuesday evening a Democratic plan put forward by Sens. Elizabeth Warren to wipe out up to $50,000 in student loan debt per borrower.
"I will not make that happen," he said at a CNN town hall event. "It depends on whether or not you go to a private university or a public university."
Biden said he was reluctant to forgive debt for people who attended elite institutions, listing Harvard University, Yale University, and the University of Pennsylvania as examples.