How Indecisive Joe Biden Finally Decided To Get Into Student Loan Debt

But the graduation season came and went without any announcement.

The question of whether even a president notoriously indecisive would exercise executive authority to forgive student loan debt seemed particularly long and drawn out. Interviews with more than a dozen people familiar with internal deliberations reveal that myriad factors contributed to the delay. It’s none other than Biden’s concerns about inflation and his insistence that the Forgiveness Plan is not considered a handout to the wealthy.

“tortured”

One Democrat, who has repeatedly spoken to the White House about the issue, was asked to describe the process and responded with a one-word text message: “I was tortured.”

Complicating matters as Biden entered his first term, everything from escalating war in Ukraine to rising gas and consumer goods prices fueling economic pessimism sapped Biden’s energy and time. There have been countless national crises and international events.

One Washington Democrat said that at various points this year, administration officials simply felt it was “much easier to continue with the postponement.” rice field.”

But outside distractions were only part of the delay.

Biden struggled with legal concerns, moral issues, and persistent questions about the fairness of the plan and its potential to exacerbate inflation.

After pondering each of these concerns with his advisers and lawmakers, the president made it clear that he feels confident that there are undeniable benefits to taking action, both policy and political. did.

The decision, which he finally announced this week – which would write off up to $10,000 of debt for those earning less than $125,000 and up to $20,000 for those who also received Pell grants – has swayed some Democrats. was more than expected and less than many requested.

Biden also announced a final extension of the moratorium on student loan repayments.

There was widespread perception within the White House that the decision was unlikely to fully satisfy the range of Democrats who had been loudly lobbying for debt relief. Some Democrats facing have distanced themselves from the move.

“This was never going to be a total win for us,” said one Democrat who participated in the discussion. increase.”

But after months of internal deliberations and delays in decisions, Biden and his aides realized they could no longer put off one of the perennially unresolved issues looming over his presidency. Did.

‘Fill’

A government official who supports the idea of ​​canceling the debt said it was seen as a review that may never actually end.

“Fill it in,” an official said of how skeptical officials view the White House’s approach to the issue. There was definitely a moment

Those who spoke to Biden about the issue had reason to be skeptical. Unlike much of his party, Biden simply didn’t embrace the idea that the White House had authority.

Mr. Biden has regularly voiced fairness concerns during discussions on the matter, citing mainly borrowers who have the means to service their debts, or mainly top-tier ones, according to two people familiar with the matter. I am concerned that it will benefit those who attend academic institutions. And what about those who choose not to go to college at all?

In April, Biden announced another extension to the pandemic-era freeze on federal student loan repayments. Yet officials didn’t have a clear reading of where Biden would land.

By then, the government review had been carried out and completed, officials said. Biden’s policy and legal teams weren’t unanimous on the merits of the idea, but they had potential options ready.

political danger

Biden’s advisers have taken a stance against polls, but inside the West Wing there is a constant stream of internal numbers that influence strategy and decision-making. Some outside polls are also poking holes in the Oval Office, but it’s none other than a poll of young voters conducted by one of Biden’s members of his 2020 campaign.

According to the study, conducted by the Harvard Institute of Political Science, only 41% of young Americans approve of Mr. Biden’s job performance. 18 points down from the previous year. Biden delved into the details of the survey alongside the poll’s authors during a meeting with Harvard student and faculty advisers at the White House.

A few weeks later, John Della Volpe, director of polls at Harvard IOP and a credible voice in Biden’s inner circle, advocated for student loan action with a clear message.

Della Volpe wrote in an essay in The New York Times, “Beyond the intrinsic economic gains, this action represents a significant conflict between the Democratic leader and the voting bloc that has been integral to his party’s recent success.” You will begin to practically rebuild the broken relationship.

Politics, shown in the Harvard poll and other polls during the spring, weren’t the only drivers of the decision.

It resonated with Biden, too. The decision to move forward is not just about the policy itself. It was also about delivering on campaign promises and taking action. Those are the two issues he highlighted as important in the Harvard poll.

But turning forward Biden openness into final policy was hardly a straight line.

Democratic push

Intense lobbying from fellow Democrats, including hours before the final announcement, took Biden time to reach a final decision.

When members of Congress’ Progressive Party Caucus visited Biden at the White House in late March, the president made one of his biggest obsessions: keep wealthy families from benefiting from loan cancellations. I pondered it aloud. Several lawmakers in the room pointed out that setting an income cap wouldn’t make much of a difference because high-income people were far less likely to take out loans to attend school in the first place.

He and White House officials have been pitched by senators, including Senator Elizabeth Warren, who famously faced off against Biden in the 2020 Democratic primary and made student-loan debt forgiveness a key pillar of her campaign. was also received.

Democrats in Massachusetts, who liked to publish statistics on Delaware alumni debt, began lobbying Biden and his aides on the issue as soon as the general election got underway. The senator has made dozens of calls with senior White House officials about the extent of potential debt forgiveness, as well as several face-to-face conversations with Biden himself, according to sources familiar with those conversations.

Senate Majority Leader Chuck Schumer was also among the handful of top Democrats who spent much of his term lobbying Biden to pay off his student loans.

The pressure continued after the Buffalo supermarket massacre in May when Mr. Biden traveled to the city to meet the families of shooting victims. On his way back to Washington on May 17 with Air Force One, Schumer directly argued to Biden that canceling his student loan debt was “financially and morally the right thing to do.”

Warren also rarely met the president on Air Force One recently. Ahead of Biden’s key speech on climate change, the senator who traveled with him to Somerset, Massachusetts, in July again put pressure on him about the urgency of the issue.

In recent months, Warren has begun lobbying the White House to consider canceling additional student loans in addition to basic forgiveness for people earning less than $125,000 a year. Low income Americans are eligible.

Vice President Kamala Harris has been widely advocating for student debt forgiveness on a regular basis, a source familiar with the debate told CNN directly to the president himself.

“It was no secret that she was a supporter of debt forgiveness,” the source said.

In a final statement released by the White House, Pell’s forgiveness to grant recipients reflected some of Sen’s at the time. It included $20,000 in relief for Pell grant recipients who started small businesses in their communities.

Jayapal, who said he had been in touch with White House officials in the days leading up to the Biden announcement, said the final figure (up to $20,000 loan waivers for Pell grantees) was “floating.” Until the final decision is made,” he said. end. “

Calling Biden’s announcement this week a “huge victory,” Jayapal said: “I think it’s been a long road for the president. You can say that.”

“Some were easy, some were hard, and I think maybe this one was a little bit difficult. But I think he settled into a place where he felt comfortable.”