With an economy in slow recovery, and the burden of education loans higher than ever, US president Joe Biden is facing increasing pressure from Democrats to wipe out $50,000 in student debt per borrower, and to do so via executive action. But Biden suggests more modest measures, saying the government shouldn’t forgive debt for students from “Harvard and Yale and Penn.”On the campaign trail, Biden pledged to clear $10,000 of federal student loan debt per borrower—a small dent in the more than $1.5 trillion of student loans issued or guaranteed by the US government.Forgiving $10,000 in debt would completely wipe out the student loan burden for one-third of America’s 43 million federal borrower
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