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​​Sen. Chuck Schumer urged President-elect Joe Biden to use an executive order to bypass Congress and cancel millions of dollars in federal student loan debt on his first day in office.

“We have come to the conclusion that President Biden can undo this debt, can forgive $50,000 of debt the first day he becomes president,” Schumer said Monday, Fox Business reported. “You don’t need Congress. All you need is the flick of a pen.”

The article goes on to state the following:

The Senate minority leader called on Biden to follow through on a plan he and Sen. Elizabeth Warren, a member of the Senate Health, Education, Labor, and Pensions Committee, revealed in September.

In a Twitter post on Monday, Schumer declared that Biden should cancel student debt on Day 1, which he claimed would “Provide immediate relief to millions struggling under the COVID crisis, Boost our economy, Increase home-buying rates and housing stability, Increase college completion rates and small business formation.”

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