![]() And without the thorough planning that passing debt cancellation through Congress could provide, addressing student debt by executive order risks saddling borrowers with a big tax bill. One potential drawback of canceling student loan debt by executive order is that it could open the door to lawsuits from loan lenders. Lawyers with the Legal Services Center of Harvard Law School call the proposal to cancel student debt by executive order " lawful and permissible." Other commentators dispute such an order's legality, saying it represents an overreach of executive power. Unintended Consequences of Canceling Student Debt Additionally, with more than a quarter of Americans behind on loan payments, canceling student debt could help provide relief for millions of households. According to a 2017 report from the Federal Reserve System, students making payments on loans for their education paid almost $400 per month, on average. Proponents of debt forgiveness say a generous write-off would stimulate the economy. The lawyers affirmed that "the Higher Education Act gives the Secretary of Education the authority to cancel student loan debt." The call to circumvent Congress using the power of the executive order first came by way of a legal memo written by a group of Harvard Law School professors. After decades of climbing college tuition rates, and various federal proposals to aid struggling students, student debt forgiveness has never been closer to becoming reality.īiden could forgive up to the first $50,000 of every student borrower's federal loan debt by executive order - one of several immediate directives that Democrats are urging Biden to issue, bypassing what could be an evenly divided or majority-Republican Congress. ![]() The moment President-elect Joe Biden walks into the Oval Office on January 21, he could be ready to sign one of the biggest education policies in history: canceling most student loan borrowers' debt. Critics say broad debt forgiveness by order has drawbacks and blind spots.Biden could cancel federal student loan debt for most borrowers by executive order.Democratic leaders and organizations urge "the next president" to help students.The Public Ivies, Little Ivies, and Other Ivy League Equivalents.Equality: Push to pass the "Equality Act," a bill to add more protections for LGBT Americans.Student Resources show submenu for Student Resources.Biden said one key effort in the update would include greater protections for transgender women. This legislation needs to be signed into law again. Biden authored the Violence Against Women Act in 1994 to offer more protections for women. Biden also said he wants to "restructure" federal agencies that oversee gun laws. Biden said he would ask Congress to close the "loopholes" and also repeal liability protection for gun manufacturers, which would allow Americans to sue the gun industry if a gun is used in a crime. Guns: After the FBI studies "loopholes" in the gun background check system, Mr.He argued that the tax cuts favored wealthy Americans. Biden said he would fight for the repeal of the 2017 tax cuts, which would require action by Congress. Repealing tax cuts: In order to pay for many of these wish list items, Mr.The new president also promised to "pressure" China to stop subsidizing coal and "outsourcing" pollution. Biden has established that does not require congressional approval. Climate: Organize a "climate world summit" to push world leaders to more aggressively tackle climate change, specifically addressing global shipping and aviation emissions.Released during the general election, the plan called for spending trillions on American-made products, health services and infrastructure updates. Economic recovery: Initiate "Build Back Better" economic recovery plan in February, during a joint session of Congress.Biden will be relying on Congress to approve many of the initiatives he aims to accomplish for his first 100 days, which could potentially be difficult, even with the slight majority that will be held by Democrats. Environment: Enact an executive order "to conserve 30% of America's lands and waters by 2030.".Biden would also restore Obama-era guidance for transgender students in schools, to protect "students' access to sports, bathrooms, and locker rooms in accordance with their gender identity " and Transgender rights: Repeal transgender military ban enacted by President Trump Mr.Climate change: Sign executive order to formulate plan to achieve 100% clean energy economy and net-zero emissions by 2050.Immigration: Send bill to Congress "for legislative immigration reform that will modernize our immigration system and give nearly 11 million undocumented immigrants a roadmap to citizenship ".COVID-19 response: Rejoin the World Health Organization.
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