90 top Democrats call on Biden to do more on student debt
1 year, 4 months ago

90 top Democrats call on Biden to do more on student debt

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mr Biden’s signature student loan forgiveness programme, which would have cancelled a minimum $10,000 of debt for all borrowers making less than $100,000, was blocked earlier this summer by the US Supreme Court in a 6-3 vote that fell along ideological lines. In a letter sent to Mr Biden and first reported on by NBC News, the Democrats argue that working-class families need the relief promised by the blocked student debt plan to arrive “as soon as possible.” “We urge you to continually find ways to use your authority to bring down student debt, address the rising cost of college, and make postsecondary education affordable for all students who choose that path,” the letter reads. “Nearly one-third of Americans who hold student debt have no degree or credential,” the letter to Mr Biden reads. “Roughly 16 percent of borrowers — including almost one-third of senior citizens holding student debt — are in default, with disastrous consequences for their credit and financial health, including the garnishment of wages and government benefits.” The Supreme Court’s decision to strike down the debt forgiveness plan could potentially complicate Mr Biden’s re-election pitch to younger voters who are more likely to be saddled with debt and have not had to make payments since the spring of 2020.

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