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House Speaker Nancy Pelosi disputed the notion that President Biden has the authority to unilaterally ​cancel students’ federal loans.​ “People think that the president of the United States has the power for debt forgiveness,” Pelosi said during her weekly news conference on Wednesday. “He does not. He can postpone, he can delay, but he does not have that power. That has to be an act of Congress.” P​elosi said the subject should be taken up by Congress as a matter of policy. “That’s a policy discussion,” she said. “But the president can’t do it, so that’s not even a discussion. Not everybody realizes that, but the president can only postpone, delay and not forgive.” The California Democrat also said she doesn’t think all Americans would be on board for forgiving the debt. A number of Democrats — including Senate Majority Leader Chuck Schumer​, Sen. Elizabeth Warren of Massachusetts and Rep. Ayanna Pressley of Massachusetts — have been pressing the president to extend the suspension of student loan payments or cancel up to $50,000 in debt per borrower through executive order.

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