Congressional Dems Call on Biden to Cancel Student Debt

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Lawmakers are calling on President Biden to cancel $50,000 in federal student loan debt as a means to stimulate the economy and address racial wealth inequities.

Congressional Dems say Biden must act on student debt.

Schumer said the president has the legal authority to take action, but acknowledged that existing precedent wasn’t “in the magnitude we’re asking.”campaigned on student debt cancellation

 

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After college I had $52,000 in student loan debt. Then I went through 4 different kinds of cancer, deferments, and IBR. With 7.5% interest, I now owe over $350,000 , a $50,000 credit will be a waste of time in my situation.

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