Progressive Democrats continue to push to cancel student loan debt

Representative Alexandria Ocasio-Cortez continues her efforts to persuade President Joe Biden to write off up to $ 50,000 in student loan debt.

The Progressive Democrat has said he must keep up the pressure on President Biden to unilaterally write off billions of dollars in student debt, adding that whether the White House follows or not “comes back to public pressure.”

“The Biden admin MUST be pushed,” Ocasio-Cortez wrote in an Instagram Q&A on Tuesday night according to Fox News. “They said they were comfortable with $ 10,000 forgiveness, but we NEED at least $ 50,000 minimum and there is support for 50,000.”

Biden acknowledged that student loan debt cancellation is necessary, but pushed for forgiving only $ 10,000 as part of the coronavirus relief effort. Biden froze student loan payments until the end of September. Ocasio-Cortez recognizes that this is a step in the right direction, but it is not enough.

Senators Elizabeth Warren (D-Mass.) And Chuck Schumer (DN.Y.) joined Representatives Ayanna Pressley (D-Mass.), Ilhan Omar (D-Minn.), Vernon Jones (D-Ga. And Alma Adams.) (DN.C.) introduced a resolution calling on Biden to write off $ 50,000 in student loan debt by executive order.

“Canceling student loan debt is the most effective executive step President Biden can take to revive this economy,” Warren said.

According to the group, Biden can use existing executive power under the Higher Education Act to order the Education Department to waive or release student loans.

Those who opposed the effort believe that canceling student loans will primarily help wealthy Americans. An article published by the University of Chicago shows that canceling student loan debt would distribute $ 192 billion to the richest 20%, but only $ 29 billion to the poorest 20%.

Republican lawmakers are also pointing out that canceling student debt would add to the country’s deficit, which stood at over $ 3 trillion for 2020 and which does not include the $ 900 billion aid plan. dollars adopted in December.

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