77 Percent of Young Voters Said Student Debt Relief Motivated Them to Vote

As President Joe Biden’s student debt cancellation plan is held up in court, new polling finds that student debt relief was a major driver of votes in this year’s midterm election — especially among young voters, who were crucial to delivering wins for Democrats in November. Among 1,500 midterm voters polled by the Student Borrower Protection Center and Seven Letter Insight after the general… Source Source / Read More: 77 Percent of Young Voters Said Student Debt Relief Motivated Them to Vote

Biden Administration Sends Signal That It May Be Extending Student Loan Pause

The Biden administration has told student loan servicers not to send out billing statements to borrowers ahead of the scheduled end date of the current payment pause, signaling that officials may be preparing to extend the student loan payment pause yet again. The current student loan payment pause ends on August 31, meaning that borrowers will have to start repaying student loans for the first time since March 2020 in September, or face default if the pause expires. Servicers typically send out billing notices about a month before the payment is starting. President Joe Biden had last extended the pause…

Critics Call Biden’s $10,000 Student Debt Forgiveness Plan “Woefully Inadequate”

The Biden administration will cancel up to $10,000 in student loan debt per borrower, according to sources with knowledge of the White House’s as-yet unannounced plans. While any amount of student debt forgiveness would be beneficial to a certain degree, experts have noted that the $10,000 amount will do very little to address the magnitude of the crisis. According to sources who spoke with The Washington Post, the forgiveness plan would erase debt amounts up to $10,000 for every borrower in the country that meets a certain set of criteria. Borrowers who earn incomes higher than $150,000 (or $300,000 for…

Sanders Ridicules Romney for Saying that Student Loan Cancellation Is a “Bribe”

Student debt cancellation advocate Sen. Bernie Sanders (I-Vermont) ridiculed Sen. Mitt Romney (R-Utah) on Thursday after the Republican said that government benefits like loan forgiveness are tantamount to a “bribe.” After news circulated that President Joe Biden is exploring options to cancel student debt without Congress on Wednesday, Romney wrote, “Desperate polls call for desperate measures: Dems consider forgiving trillions in student loans. Other bribe suggestions: Forgive auto loans? Forgive credit card debt? Forgive mortgages? And put a wealth tax on the super-rich to pay for it all. What could possibly go wrong?” In response, Sanders, who favors canceling all…

GOP Senators Unveil Bill to Bar Biden From Canceling Student Debt

Just after news broke of President Joe Biden’s plan to fulfill his campaign promise to cancel student debt, Republicans introduced a bill that would explicitly bar him from doing so, despite evidence that the current towering burden of student debt constitutes a major economic crisis. GOP Senators Bill Cassidy (Louisiana), John Thune (South Dakota), Richard Burr (North Carolina), and two others unveiled a measure that would bar the president from canceling student debt because of a national emergency, and limit the president’s ability to extend a student debt payment pause. Their proposal, which is not likely to pass Congress, would…

AOC Calls for Student Loan Cancellation as Biden Is Expected to Extend Freeze

President Joe Biden is expected to announce on Wednesday that his administration is once again going to extend the student loan payment pause, which is currently set to expire in May. According to administration officials, Biden will only extend the pause for three months. The new expiration date would be August 31. Though the action received limited praise from lawmakers, it’s far from what debt advocates and Democrats and progressives in Congress have been demanding. Last week, nearly 100 Democrats sent a letter to Biden urging him to extend the payment pause through at least the end of the year,…

Sanders Urges Biden to Cancel All Student Loans After Biden Announces Freeze

After the Biden administration announced on Wednesday that it is extending the federal student loan payment pause, progressive lawmakers are encouraging the president to take further action by cancelling student debt. Debt advocates and lawmakers have been pressuring Joe Biden to follow through with his campaign promise to cancel up to $10,000 of student debt per borrower, some of them urging him to forgive student loans altogether. These calls were amplified after the administration announced that it would be extending the payment freeze for another 90 days, until May 1 – a decision that debt cancellation advocates say was largely…