MILWAUKEE, Wi. (CBS) – President Joe Biden seems to be shooting down the idea of canceling $50,000 in student loan debt.

When asked by an audience member during Tuesday night’s town hall on doing so, President Biden responded by saying he would not make that happen believing he did not have the authority However, the president did say he was ready to cancel $10,000 in debt.

The president’s latest remarks on the subject came just a week after Senate Majority Leader Chuck Schumer, Sen. Elizabeth Warren, and others called on him to use his executive authority to erase $50,000 in student loan debt, calling it both an economic and racial justice priority.