It's more that the blanket forgiveness just plain couldn't be done outside of creating and passing an actual bill through Congress. That's not going to happen with this Senate and House.
What Biden really is doing is correcting existing forgiveness programs and also decreasing some of the requirements.
- People with loans who worked in public service were supposed to get loans forgiven after 10 years but that law wasnt administered properly. People did their ten years, submitted the paperwork, and didnt get relief. The Biden Administration went back and fixed it, giving public servants the debt relief they should have gotten. Sure, it's not new, and he's essentially taking credit of existing programs, but doing the boring and good work of making sure programs are being implemented correctly is an important part of any govt program and it should be celebrated. The boring but influential parts of govt bureaucracy should be hyped up more. We don't get increase government state capacity if we can't identify failures and correct them, and celebrate the fixes
- He's then also deceased the requirements of the income based repayments programs from 20 years to 10 years. I'm actually curious if he can legally reduce that to like 5 years or lower. That would be pretty cool