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Once again, Congress. They control the purse strings.
https://www.msn.com/en-us/news/politics/the-reason-president-biden-might-not-be-able-to-cancel-student-debt-after-all/ar-AAXVppa?ocid=msedgntp&cvid=c1346176d04f4cc1b86591d493b4be51
That and it'd likely, y'know, completely tank the economy. But I suppose that's an afterthought.
Nope, no worries. The billionaires will pay for it.