President Joe Biden had an exhausting first day in office. From enjoying performances from Lady Gaga and Jennifer Lopez to visiting the Arlington National Cemetery, he had little time to rest. In the more quiet moments of his first day in office, he took time to work. During his first day in office, he issued more than a dozen executive orders and changed up a bit of the decor within the White House. Most notably, he has allowed Americans to take a break from repaying their student loans through September.
“Borrowers of all ages are often faced with a tough trade-off between making their student loan payments, investing in their long-term financial future, or paying their bills. The pandemic has only increased the economic hardship of the millions of Americans who have student debt,” the President said in an executive order on his first day in the Oval Office.
This is officially signed.
President Biden has directed the Dept of Ed to continue a pause on federal student loan payments through Sept. 30.
It was one of 17 executive actions Mr. Biden signed this evening. https://t.co/bGF97zizVB
— Kate Smith (@byKateSmith) January 20, 2021
This executive order fits in line with his previous campaign promise to forgive $10,000 in student loans for all Americans. However, Senators Chuck Schumer and Elizabeth Warren believe that he can do much more. In fact, the two Senators have asked that the President forgive $50,000 in student loans for every American through executive action.
“All you need is the flick of a pen,” Schumer said last month.
“You don’t need Congress.”
Biden will have that and much more to ponder during his first 100 days in office as he grapples with a pandemic, impeachment trial and climate crisis.