Elizabeth Warren To Joe Biden: Cancel Student Loans

Donald Trump support ending the Public Service Loan Forgiveness program

Sen. Elizabeth Warren (D-MA) tweeted today that President Elect Joe Biden and Vice President Elect Kamal Harris can cancel “billions of dollars of student loan debt.” According to Warren’s tweet, student loan forgiveness would be the most effective option for an economic stimulus: Biden-Harris can cancel billions of dollars in student loan debt, giving tens of millions of Americans an immediate financial boost and helping to close the racial wealth gap. This is the single most effective executive action available for massive economic stimulus.”

Warren, and Sen. Bernie Sanders (I-VT) championed student loan forgiveness on the presidential campaign trail. Sanders advocated for a full cancellation of student loan debt. For example, Sanders proposed that the federal government forgive all $1.6 trillion of student loans, including both private and federal student loans. Warren proposed student loan forgiveness for 95% of Americans and would have capped student loan forgiveness based on income. Both Sanders and Warren also support continuation of the Public Service Loan Forgiveness program—a federal program that forgives federal student loans for borrowers who work full-time for a qualified non-profit or public service employer.

In contrast, President Donald Trump and U.S. Secretary of Education Betsy DeVos support ending the Public Service Loan Forgiveness program. Trump and DeVos support student loan forgiveness through income-driven repayment plans, which are available for borrowers to repay federal student loans. However, they do not support a separate student loan forgiveness plan only for public servants.

https://www.forbes.com/

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