Will Biden Cancel Student Loan Debt? As College Costs Spiral, Here’s What He’s Considering
- Total Posts: 8,630
Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Elizabeth Warren, D-Mass., have said they believe the president has the authority to cancel $50,000 in loans, and they urged him to do so immediately.
“Studies show that student debt cancellation can substantially increase Black and Latinx household wealth and help close the racial wealth gap, provide immediate relief to millions who are struggling during this pandemic and recession, and give a boost to our struggling economy through a consumer-driven economic stimulus that can result in greater home-buying rates and housing stability, higher college completion rates, and greater small business formation,” the pair said in a statement last fall. “Even before the coronavirus pandemic plunged our economy into chaos, student loan borrowers were already in crisis,” Warren said.
Ocasio-Cortez pushed back against Biden’s point that student debt forgiveness might come at the cost of other education programs. “Nowhere does it say we must trade off early childhood education for student loan forgiveness. We can have both,” she said.
“Many won’t fully feel $10k in forgiveness until after a Biden presidency is over, when they’ve spent 10 years paying off the other $20k+,” Ocasio-Cortez tweeted. “Dems should be championing policy that people can feel ASAP. We need to go big.”
Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction
April 12, 2021 at 1:09 PM #416536retired liberalParticipant
- Total Posts: 3,825
Why does everything have to revolve around the maximum they can get away with charging? The highest profits they can get away with?
If we can afford trillion airplanes that can’t fly, we can cancel education debts, which is a fraction of that.
We are an arrogant species, believing our fantasy based "facts" are better than the other person's fake facts.
If you are wrong, it will be because you are not cynical enough.
The older we get, the less "Life in Prison" is a deterrent.
Always wear a proper mask when out and about. The life you save could be both yours and mine.
- You must be logged in to reply to this topic.