Over 80 Democrats say it’s time for Biden to cancel $50,000 of student debt.
By Sharon Zhang, Truthout
Over 80 Democrats have demanded that President Joe Biden cancel a portion of student debt and release an Education Department memo on his legal authority to do so, in an effort led by Rep. Ayanna Pressley (D-Massachusetts) and Senators Elizabeth Warren (D-Massachusetts) and Chuck Schumer (D-New York) this week.
In a letter to the president, the lawmakers wrote that Biden should immediately cancel up to $50,000 of student debt per borrower – a move that would boost the economy and provide a lifeline to the millions of Americans with student loans. The lawmakers emphasized that the president should act with urgency, as student loan payments are due to restart in three months.
“Canceling $50,000 of student debt would give 36 million Americans permanent relief and aid the millions more who will eventually resume payments their best chance at thriving in our recovering economy,” the lawmakers said. “In light of high COVID-19 case counts and corresponding economic disruptions, restarting student loan payments without this broad cancellation would be disastrous for millions of borrowers and their families.”
Recent Posts
There’s No Such Thing As A Good Billionaire
Take Action Now Democrats want us to believe that there is some cohort of “good billionaires” who can be relied upon to fight for political progress.…
Anti-Immigrant Legislation Is A Boon For The Prison Industry
Take Action NowThe Laken Riley Act is an assault on due process, undermining all of our rights to make for-profit prison CEOs richer.……
Joe Biden Tragically Failed To Learn From The Past
Take Action NowThe departing President, like Reagan, leaves a bloodstained foreign policy legacy.By Stephen Zunes, The…
Suicide by Rental Truck: Why The U.S. Gets Violent
Take Action Now A tiny subset of veterans have been responsible for a disproportionate number of mass shootings and other violent attacks.By…