Despite the fact that the votes continue to be counted and Trump does not accept defeat and will appeal the results of the election, Joe Biden is President-elect, after major US networks called the election in his favor
According to CNBC, President-elect Joe Biden was called “the most progressive nominee in history,” and one of the policies proposed by him that led to that description was his call for student debt forgiveness. Now he has been elected President, will it really happen?
Biden laid a plan saying he would forgive $10,000 in student debt for all borrowers, and the rest of the debt for those who attended public colleges or historically Black colleges and universities and earn less than $125,000 a year.
Education issues are usually not a top priority for new presidents, but the fact that Biden’s wife is an educator, and that student vote helped him win, might make it different this time.
Still, the chance of passing legislation depends on the composition of the Senate, which is still undefined and will be decided in January when Georgia hosts a runoff election for two seats. If Democrats win those seats, there’s the possibility that Biden could use a so-called budget reconciliation bill, which aims to cut the federal deficit, to couple student loan forgiveness with tax cuts.
A split Congress will make it more difficult to make forgiveness a reality.