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
Nuclear Powers Spend Record Billions on Weapons While Hunger and Climate Needs Go Unmet
Take Action Now The United States accounted for more than half of global nuclear weapons spending in 2025 as watchdogs warn of a growing arms race,…
Daniel Ellsberg vs. “Ordinary Insanity”
Take Action Now A new documentary issues an urgent warning about our dangerous nuclear delusions.By Norman Solomon, The Nation A few days before…
House Rejects Ro Khanna’s Effort to Block U.S.-Israel Military Integration
Take Action Now Khanna introduced an amendment to strike down the proposal on Thursday, but was met with widespread opposition.By Shireen…
The Spectre of Gen Z Socialism is Haunting the World … According to the Economist
Take Action Now The magazine writes: ‘Resisting Gen-Z socialism is therefore an urgent task.’ That urgency must outweigh any urgency of feeding…