Subtitles section Play video Print subtitles the White House on Wednesday said President Joe Biden will ask the Department of Justice to review his legal authority to cancel student loan debt, adding the president does not favor $50,000 in student loan relief without limitation. White House spokeswoman Jen Psaki told reporters that Biden believes relief above $10,000 should be targeted based on the borrower's income and the kind of debt in question. He said previously that relief above $10,000 should be targeted based on the borrower's income based on the kind of debt in question. Public schools versus private schools, Graduate schools versus Undergraduate Obviously, there's a lot of considerations at play. What the president has told Senator Schumer and Warren is that once his team is in place at the Justice Department and they're not, of course they're They're not confirmed at this point. He will ask them to conduct a legal legal review of his authority, UH, toe Act by Executive Action in conjunction with a policy review from his domestic policy council on his executive on how executive action debt relief, if any, should be targeted. And once that's concluded, he'll decide the path forward the day before. At a CNN town hall in Milwaukee, Biden shot down the proposal to eliminate $50,000 in student debt that many prominent Democrats are pushing for, saying quote. I will not make that happen. My point is I understand the impact of debt and it can be debilitating. I am prepared to write off the $10,000 debt, but not 50 because I don't think I have the authority to do it. On Wednesday, Senate Majority Leader Chuck Schumer and Democratic Senator Elizabeth Warren said in a statement that the administration does have broad authority to provide relief and added quote. An ocean of student loan debt is holding back 43 million borrowers and disproportionately weighing down black and brown Americans. Canceling $50,000 in federal student loan debt will help close the racial wealth gap and benefit the 40% of borrowers who do not have a college degree and help stimulate the economy.