Warren has joined her congressional colleagues in urging President Biden to cancel $50,000 in student debt for each borrower
... [+]Former presidential candidate Elizabeth Warren is continuing her crusade to slash Americans’ student loan debt.
Since the start of the pandemic in March 2020, the federal government has hit pause on Americans’ obligation to repay their student loans. That relief is due to end on January 31, 2022. . A nonbinding resolution proposed by Democrats asks Biden to issue an executive order that would cancel 80% of the student loans owed by 36 million borrowers.posted this morning, Warren describes why she is so passionate about helping indebted graduates and those who have debt but no degree.
“Through the decades, the cost of higher ed has increasingly been shifted away from taxpayers and on to families,” she said. “Families that can afford to send their kid to college—and that kid can graduate debt free—have moved their next generation forward faster and further than families that don’t have those resources. It’s that inequality that lies at the heart of it that has pulled me into this debate from the beginning.
In other words, Warren sees student debt as a prime driver of the expanding wealth gap in the United States. Rich families can afford to cover the rising cost of higher education while disadvantaged families are dragged down by debts that follow them into adulthood.
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