Elizabeth Warren Is Urging Joe Biden To Bypass Congress To Cancel Student Loan Debt

LOS ANGELES, CALIFORNIA - DECEMBER 19: Sen. Elizabeth Warren (D-MA) speaks as former Vice President Joe Biden listens during the Democratic presidential primary debate at Loyola Marymount University on December 19, 2019 in Los Angeles, California. Seven candidates out of the crowded field qualified for the 6th and last Democratic presidential primary debate of 2019 hosted by PBS NewsHour and Politico. (Photo by Justin Sullivan/Getty Images)

Elizabeth Warren Is Urging Joe Biden To Bypass Congress To Cancel Student Loan Debt

It’s among several initiatives the Biden-Harris team is considering.

Published 2 weeks ago

Written by Paul Meara

Massachusetts Senator Elizabeth Warren is urging President-elect Joe Biden to maneuver around Congress and cancel student loan debt for millions of people.

Via her Twitter account, Warren listed numerous issues that the Biden-Harris team committed to assisting in, including the Paris Climate Accord, reinstating DACA, and ending the travel ban against certain Muslim countries.

That said, Warren also listed student loan debt in a subsequent tweet and labeled it “the single most effective executive action available for a massive economic stimulus.”

RELATED: The 2020 Presidential Candidates Release Their Plans for Waging A War Against The Student Debt Crisis

”Biden-Harris can cancel billions of dollars in student loan debt, giving tens of millions of Americans an immediate financial boost and helping to close the racial wealth gap,” she wrote. “This is the single most effective executive action available for a massive economic stimulus.”

Currently, student loans are the second-highest amount of debt for Americans at $1.4 trillion. after mortgage debt ($9.6 trillion).

Warren and Senate Minority Leader Chuck Schumer (D-NY) introduced student loan debt legislation in September calling for up to $50,000 to be wiped from every borrower.

During a town hall, Biden promised to cancel up to $10,000 in student loan debt. He added he would also extend student loan forgiveness to include private Historically Black Colleges and Universities (HBCU) or Minority-Serving Institutions (MSI).

 

Photo: Justin Sullivan/Getty Images

COMMENTS

Latest in news