Biden says he's considering forgiving student loan debt, but not $50,000 per borrower

Washington — President Biden said he is "taking a hard look" into forgiving some federal student loan debt on Thursday, but the amount he is considering is less than $50,000 per borrower, lower than some top Democrats have been seeking since he took office. 

"I am considering dealing with some debt reduction," Mr. Biden said in response to a question at the White House. "I am not considering $50,000 debt reduction. But I'm in the process of taking a hard look at whether or not there will be additional debt forgiveness." 

The president said he would have an answer on forgiving additional debt in the "next couple of weeks."