Senators Chuck Schumer (link) and Elizabeth Warren (link) yearn for a dictator. They want Joe Biden to cancel up to $50,000 in student loan debt per person, and they want him to do so by Executive Order -- bypass Congress and just do it. Apparently they did not learn, have forgotten, or don't care that the Executive Branch is for executing the law, not making it. It is Congress's role to make law. That follows the principle of separation of powers. A primary definition of "execute" in most dictionaries is to carry out or put in effect, not to create or make.
Even the left-leaning Brookings Institution said Biden shouldn’t listen to Schumer and Warren on student loans. The objection was not based on separation of powers. "Many student loan borrowers are advantaged, well-educated high earners. About 56 percent of student debt is owed by those with masters or professional degrees, and almost 35 percent of loan balances are owed by individuals in the top 20 percent of the income distribution. Many student-borrowers need relief, but well-off borrowers who are thriving — thanks, no doubt, to their college degrees — do not."
Even the Washington Compost is against it. I doubt it is based on separation of powers. I don't subscribe to the Compost, so I couldn't read the article.
Joe Biden has proposed only cancelling up to $10,000 (link). He might also accept an income cap, such as $125,000, or limiting it to undergraduate debt. More significant -- and unlike Schumer and Warren -- he wants Congress to make the law.