 So prior to the current pause on student loan repayments, the White House chief of staff, Ron Klain, said that they would either choose to cancel student debt or they'd extend the current pause at the time. And so they chose to extend the current pause seemingly in lieu of cancelling student debt. So at that point, once we learned about the current pause until August, I thought, okay, so I guess that cancelling student debt is off the table. But apparently I'm pleasantly surprised to be wrong here because the Biden administration told the Congressional Hispanic Caucus that he has some big plans with regard to student loan debt. CBS News reports Biden tells Congressional Hispanic Caucus he's looking at forgiving some federal student loan debt. Now, before we dive into the article, I just want to point out that there are other conflicting reports saying that he's considering canceling all student debt. But regardless, what we're getting, for the most part, is the signal that he's going to cancel a substantial amount of student debt. How much? I don't know, but I think that this is a really positive thing that I want to celebrate, not too preemptively, but if this does indeed happen, it would have big implications, not just for this election, but I think for an entire generation going forward. So the article explains, President Biden is looking at different options to forgive an unspecified but substantial amount of federal student loan debt, a move that would throw some of his most loyal supporters and financially strapped students nationwide, but as a departure from campaign pledges to provide limited relief. The president shared his plans during a 90 minute White House meeting Monday with members of the Congressional Hispanic Caucus. Participants in the exchange tell CBS News. The move could affect more than 43 million borrowers who hold more than $1.6 trillion in federal student loan debt. The second largest debt held by Americans behind mortgages. Representative Tony Cardenas, Democrat of California, who attended the meeting, said the president is open to forgiving debt for college students regardless of whether they've attended a public or private institution. The president never mentioned an amount, nor did the president say he was going to wipe out all student debt. Cardenas said he did a dialogue with us about the differential between young people who went to public schools or private schools. And we, Congressional Hispanic Caucus members, said he should focus on both and he said, OK, good to know. Cardenas said he reiterated to Mr. Biden that the Hispanic Caucus supports executive action that would forgive at least $10,000 in college debt if Congress can't pass legislation doing so. In response, Cardenas said, the president smiled and said, you're going to like what I do on that. I'm looking to do something on that. And I think you're going to like what I do. So first and foremost, I've got to point out that Cardenas and Democrats in general need to stop lowballing themselves. You don't tell the president, well, at a minimum, you should cancel $10,000. You tell the president, you should cancel all student debt. But if you're unwilling to do that, then at a minimum, cancel 50,000. But they always like lowball themselves. So I mean, I wish that they'd stop doing that. But that's neither here nor there. This would be something that would be huge. This isn't just the president of the United States unilaterally doing a good thing. This is the president of the United States, fundamentally changing millions of people's lives. And I don't think that people fully understand the implications of this. This means that my entire generation and Gen Z years for the first time might be able to purchase a car, might be able to move out of their parents' houses, put down a down payment on a home. I mean, this would change their lives. And so if Biden were to do this, I believe this is really the only fundamentally good thing that's massive that a president has ever done in my lifetime. It would just automatically make Biden the best president in my lifetime, just with this one thing, because it's so transformative. And that's not to say that, you know, this isn't Biden writing the wrong since when he was the senator, he made it almost impossible for us to discharge our debt, but for him to right that wrong, to provide people with relief at a time when we desperately need it, people are going to remember this. Now, I'm not going to say that if he were to cancel all student debt, this would definitely save Democrats in the midterms. I don't know what is going to be the electoral outcome. But what I can tell you, just speaking from my own experience, if Biden were to do this, it would fundamentally change the way that I think of him for him to do something good. So I don't know what's going to happen. But I've got to say, I'm expecting at least ten thousand dollars to be canceled because you can't just keep stringing people along saying, maybe I will, maybe I won't. And then you don't like that's just horrible politics. And it's certainly a possibility, right? I'm not going to rule that out. But I think that at a minimum, he's going to cancel ten thousand dollars. Now, if he did that, it'd be good. It's better than nothing. But I mean, you're really only wiping out a few years' worth of interest. And it's not going to fundamentally change people's lives. What we really need to do is eradicate all student debt. That's where you have the most profound impact. And so, you know, maybe it's fifty thousand. That's certainly that's that's huge. But it's not canceling all student debt. So if he did this, this would be incredibly popular. And Republicans know this, which is why just the mere prospect of Biden actually signing an executive order, canceling student debt is making them mauled. So Mitt Romney took to Twitter to denounce his cancellation of student debt, saying desperate polls call for desperate measures. Dems consider forgiving trillions in student loans, other bribe suggestions, forgive auto loans, forgive credit card debt, forgive mortgages and put a wealth tax on the super rich to pay for it all. What could possibly go wrong? Actually, yeah, we should do some of those things. We should at least forgive all medical debt in this country. But sure, let's go further. I mean, this is somebody who literally has an elevator in his mansion just for his cars. So this multimillionaire can't fathom why students want their debt canceled. Mitt Romney's generation, even though he's super wealthy, but his generation did not have to deal with crippling debt after they put themselves through school. You can work a Taco Bell and you can still put yourself through school, pay off your student loans and then purchase a home. I know this because my college professors have told me that it was a lot easier for them to put themselves through college than it is for my generation. So it's incredibly unfair that my generation gets strapped with student debt that Mitt Romney's generation did not have. So I'm sorry that you don't like that Joe Biden might do something popular and you see it as a bribe. But good, I don't care if you think this is a bribe. Doing good things for Americans is why we put you there in the first place. But this goes to show you that Republicans, they don't like what would happen if Democrats actually got their heads out of their asses and started doing good things. Because then they couldn't just focus on the focus on the cultural issue stuff. They couldn't just focus on Disney going woke or M&M's, you know, redesigning their candy mascots to be less sexy. They'd actually have to find some way to distract us from the fact that Biden just gave us a new life. So they don't know how politically they'd be able to compete with that. So that's why they're melting down. More on this, J.D. Vance writes, forgiving student debt is a massive windfall to the rich, to the college educated, and most of all, to the corrupt university administrators of America, no bailouts for a corrupt system. Republicans must fight this with every ounce of our energy and power. To which David Dahl responded, saying, ah, yes, all the rich people have loads of student debt. You are very intelligent. Exactly. Jim Jordan tweeted, cancelling student loan debt is stupid. It's stupid. So don't do it. OK, well, what's your solution? What's your solution? What do you do? Because this is a massive crisis. And regardless of how much you hate these students who decided to try to better their lives because you all told us that we need to go to school in order to succeed economically. I mean, what do you do? Do you just let that bubble pop? Do you let millions of people default on their loans? What do you do? And the answer is fuck all, fuck them, let them suffer. That's the mentality from Jim Jordan and Republicans. They don't want this to happen because they know that it's a good thing that will make Joe Biden very popular and that scares them. I mean, look, you all could do good things as well, right? Trump could have canceled student debt. Republicans can propose a bill to cancel student debt, but they don't care about ordinary Americans. They couldn't care less about the suffering of millennials who can't afford to buy a home to even pay their fucking rent. So, you know, I love watching them mauled. Just them freaking out about this tells me that Biden really is considering this. Now, the only way that this can go wrong is if Biden all of a sudden says, you know what, I'm proposing canceling all student debt. Let's do it legislatively because then that's just nothing's going to come up. So he has to follow through with his pen specifically. And if he does, you'll see a bunch of Republicans squirm because they won't know how to compete with that. They won't be able to compete with something that is incredibly popular. And Republicans know that student loans are a huge scam. In fact, this person responded to Jim Jordan saying, I borrowed around $40,000. Interest brought me over $100,000 in debt over the years. I have more than repaid the original $40,000. I still owe over $100,000. We are not freeloaders. We have been scammed by the banks right this wrong. Similarly, Michael Sonato shared his balance. He originally took out $73,000, paid back nearly $97,000, but he owes $168,000. So this is an issue that isn't just going to go away on its own. This entire generation, two generations now with Gen Z disproportionately who strapped with student debt, we're not all of a sudden going to have enough money to pay off our student loans. It's not going to happen, because even if you pay off the original amount that you borrowed, you still can't make up for it with all of the interest. It's a scam. It is a complete scam. So if there isn't executive action, then there's no other way to actually solve this crisis. Now, some other responses that I wanted to share. This is from Brian Tyler Cohen, who writes, hundreds of billions in PPP loans have been forgiven, including for big corporations. Republicans had no issue, but the moment it seems like the president Biden might forgive some student loans to help younger Americans and our economy, Republicans are screaming about handouts. And that's exactly it. Ida Bellwell says, I came from a working class family. My parents took out plus loans and desperate to make something of myself. I took out tens of thousands in student loans after repaying many multiples of my original debt at 45. I finally paid them off. I'd wish that on no one coming behind me. Exactly. I haven't been able to pay off my student loans. I'm nowhere near paying off my student loans. But if I were lucky enough and privileged enough to be able to pay off my student loans, I wouldn't just think, oh, well, I paid off my loan so nobody else should be able to because being able to achieve that is statistically unlikely. I mean, most of us will have this debt until the day we die unless Biden cancels it. So if Biden were to do this, I mean, this entire generation, two generations would sing his praises. And so to dangle this in front of us and not deliver up, that would just be cruel. But apparently he's supposed to make an announcement about this before August. It'd be nice if we knew as soon as possible, but I understand that he's trying to maximize the impact of this and, you know, schedule this closer to the election. OK, whatever, I get it. Play politics off of this. But I mean, just do it. It's a good thing. Objectively speaking, it would save a lot of us. It'd be a boost to the economy automatically. You have millions of Americans with a lot of purchasing power. All of a sudden, more income every single month that they didn't previously have. And we already know that this isn't going to impact the economy in a negative way because with COVID-19, we haven't been making our repayments. So you can't even use that argument. There's no reason to not cancel student debt. So Biden needs to do it. And all of the screeching around him, the fact that Republicans want to stop him from doing this tells me that he might actually do it. But I'm not going to get my hopes up. You know, I'll believe it when I see it. But do this and we will sing your praises basically forever, Joe Biden. It doesn't mean that all of a sudden you're a deity, but it does mean that we will remember this in election times. And you set a new standard for Democrats. You can prove to other Democrats that doing good things for people, giving them more money is popular. And Republicans know this, hence why they are freaking out. Because if you cancel student debt and give all of us more money in our wallets, nobody's going to give a fuck about woke Disney or woke Netflix or cancel culture. We're going to acknowledge that all the Republicans were saying was a mere distraction from the fact that you just saved an entire generation from crippling debt, cancel it all, Joe Biden, just fucking do it. Don't contemplate any longer, do it, and this will pay dividends for the Democratic Party for quite some time, I'd imagine.