WASHINGTON - Senate Majority Leader Chuck Schumer, Sen. Elizabeth Warren and Rep. Ayanna Pressley on Thursday urged President Biden use his executive authority to cancel up to $50,000 in student loan debt for federal student loan borrowers.Schumer, D-N.Y., Warren, D-Mass., and Pressley, D-Mass., on Thursday reintroduced a resolution, which would allow the secretary of education to "cancel up to $50,000 in federal student debt."The resolution also called on Biden to take executive action to "administratively cancel up to $50,000 in Federal student loan debt for Federal student loan borrowers" using "existing legal authorities" under the Higher Education Act of 1965.