Elizabeth Warren Calls on Biden to Cancel $50,000 of Debt for Each American With Student Loans

US senator Elizabeth Warren is calling on Joe Biden to use an executive order to cancel $50,000 of debt for each American with federal student loans.

The senator also joins other congressional Democrats including fellow Massachusetts US Representative Ayanna Pressley in asking for the current pause in federal student loan payments to be extended to 31 March 2022.

Payments were paused by the Trump administration at the start of the coronavirus pandemic, a move that was extended by President Biden to 30 September 2021 through an executive order he signed on his first day in office.

Ms Warren is particularly passionate about eliminating student loan debt – it was a major issue for her in her 2020 presidential primary campaign.

Speaking to MassLive she said of the two proposals: “If they do both of those things, that will completely eliminate student loan debt for 85 per cent of the people who currently carry it.”

She added: “And for the 15% of people who remain, it gives the Department of Education a chance to get them into the right repayment programs.”

Ms Warren says that eliminating debt at the $50,000 level is right because it “maximises racial justice and closes the racial wealth gap the most”.

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SORUCE: The Independent, Oliver O’Connell

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