Joe Biden Accepts Party's Nomination For President In Delaware During Virtual DNCThe president has spoken. If you’re expecting wide-scale student loan cancellation, you won’t find any in the president’s proposed annual budget to Congress. For student loan borrowers who are wondering whether the president will enact wide-scale student loan forgiveness, the answer appears to be no.

If the president’s $5.8 trillion proposed budget is any indication, student loan borrowers shouldn’t expect any wide-scale student loan relief this year.

While only Congress approves the federal budget, the president can propose a budget for Congress to consider. Consistent with previous years, Biden didn’t include student loan cancellation as an economic priority.

For progressive Democrats in Congress, the exclusion of student loan forgiveness may come as a disappointment.

Democrats have been lobbying the president to cancel up to $50,000 of student loans for borrowers. The exclusion of student loan cancellation may not be surprising, however. Why? Biden consistently has said he supports up to $10,000 of student loan cancellation for student loan borrowers. However, Biden has doubted his legal ability to cancel student loans for all student loans borrowers.