[ad_1]
A coalition of 17 state attorneys general is calling for the cancellation of a federal student loan debt of up to $ 50,000 for all borrowers.
Democratic Attorneys General, led by New York Attorney General Letitia James and Massachusetts Attorney General Maura Healey, sent a letter Friday to congressional leaders supporting resolutions calling for President BidenJoe Biden Five takeaways from a dark night for Democrats Youngkin wins Virginia Gov. Michelle Wu’s race to be Boston’s first female mayor MORE to use executive action to write off delinquent student loans.
“The current federal student loan repayment system does not give troubled borrowers the ability to manage their debts or recover from the current economic crisis,” the attorneys general wrote. “Large-scale federal student loan debt forgiveness will bring immediate relief to millions of people struggling during this pandemic and recession, and provide a much needed boost to families and our economy. ”
The letter noted that borrowers were struggling with student debt long before the coronavirus pandemic, and that people of color have been disproportionately affected.
Congressional resolutions, state attorneys general said, “Would help address predatory practices that have caused disproportionate harm to people of color, stimulate our struggling economy, and create a viable future for millions of Americans.”
The letter comes as progressives increase public pressure on Biden to write off up to $ 50,000 in student loan debt. The president said during a CNN town hall Tuesday that he was prepared to write off up to $ 10,000 in debt, but not $ 50,000.
It’s unclear exactly what executive authority Biden has on this matter. The White House has previously said it is reviewing the president’s credentials, although Biden has indicated he would prefer to sign legislation passed by Congress that eliminates some student debt.
[ad_2]
