The president indicated to Congressional Hispanic Caucus members that he is looking at options for executive action to forgive some federal student loans.
to cancel student debt, with dozens of members of Congress saying he should use his executive powers to eliminate at least $50,000 in debt per borrower.to eliminate $50,000 in student loan debt per person; during his presidential campaign, he said he supported legislation forgiving $10,000 of debt per person.
Widespread loan forgiveness would have a significant impact on the racial wealth gap, as Black undergraduates are more likely than any other racial group to have to borrow money to pay for college — and Black students graduate with the greatest student loan debt of any group,
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