Schumer has proposed Biden cancel the first $50k in student debt via executive order

Senate Minority Leader Chuck Schumer and Elizabeth Warren are proposing Joe Biden cancel the first $50k in debt via executive order in the first 100 days he is in office, which Schumer hopes to be “FDR like.”

“I have a proposal with Elizabeth Warren that the first $50,000 of debt be vanquished, and we believe that Joe Biden can do that with the pen as opposed to legislation.” Schumer says in an interview with TheInk election eve.

Democrat Tom Winter tweeted “Schumer saying Biden can cancel first $50,000 in student debt via executive order. And will do so in first 100 days. This will change so many lives.”

However, not everyone thinks it’s a great or fair idea.

Damon Linker of “The Week” wrote “I think Dems are wildly underestimating the intensity of anger college loan cancelation is going to provoke.”

He added “Those with college debt will be thrilled, of course. But lots and lots of people who didn’t go to college or who worked to pay off their debts? Gonna be bad.”

Noah Wright replied “I agree. I had 120k in student loans and still have 69k. I’d love to have 50k forgiven, but that isn’t fair. All I’m asking for is an interest rate that matches my credit score.”

Another Twitter user replied “I’m not a conservative generally, but on this issue I honestly don’t get the rationale for doing this other than buying votes from college students for the midterms. Just canceling debt? Seems childish and irresponsible”

Dan Harrison wrote “It’s such a ridiculous idea. Let’s say everyone gets $50,000 worth of their loans cancelled. What happens to students starting college next year? Do they get a free $50,000 loan?”

Another Twitter user replied “Also, what about someone who just paid off their debt last year? Or went to a cheaper in-state school so they graduate without debt? Do they get a check for $50k?”