Biden is looking into his ‘legal authority’ to cancel student loan debt, White House Chief of Staff Ron Klain told Politico

Joe Biden
President Joe Biden speaks during a news conference in the East Room of the White House, Thursday, March 25, 2021, in Washington
  • President Joe Biden is looking into his "legal authority" to cancel student loan debt.
  • Chief of Staff Ron Klain said Biden has asked Education Secretary Miguel Cardona to make a memo on the subject.
  • He said the memo will look into both forgiving student loan debt and canceling it entirely.
  • See more stories on Insider's business page.

President Joe Biden is looking into his "legal authority" to cancel student loan debt up to $50,000, White House Chief of Staff Ron Klain said in a POLITICO Playbook interview on Thursday.

While speaking to Politico's chief Washington correspondent Ryan Lizza, Klein said Biden has asked Education Secretary Miguel Cardona to create a memo on the president's legal authority to forgive student loans.

He wants the memo to look into both forgiving student loans and canceling loan debt up to $50,000, Klain said.

"[Biden will] look at that [memo on] legal authority," Klain said. "He'll look at the policy issues around that and he'll make a decision. He hasn't made a decision on that either way and, in fact, he hasn't yet gotten the memos that he needs to start to focus on that decision."

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