Ayanna Pressley: Biden Should Cancel $50,000 In Student Loan Debt For Every Borrower

Democratic Representative Ayanna Pressley (D-MA) introduced a House resolution today calling on President-Elect Joe Biden to utilize executive authority to cancel $50,000 in federal student loan debt for every borrower. She was joined by Democratic Representatives Ilhan Omar, Maxine Waters, Alma Adams, Madeleine Dean, Pramila Jayapal, Barbara Lee, and Jahana Hayes.

“Broad-based student debt cancellation is precisely the kind of bold, high-impact policy that the broad and diverse coalition that elected Joe Biden and Kamala Harris expect them to deliver,” said Congresswoman Pressley in a statement “As we work to fight for meaningful economic relief for workers and families that meets the scale and scope of the crisis we face, canceling student debt is one of the most effective ways to provide direct relief to millions, help reduce the racial wealth gap, stimulate our economy, and begin to deliver an equitable and just recovery. On day one of his Administration, President-elect Biden will have the executive authority to cancel billions in student debt with the stroke of a pen.”

The push to broadly cancel student loan debt has been gaining momentum during the last several months, and Pressley’s House resolution mirrors a similar resolution introduced in the Senate by Senators Elizabeth Warren (D-MA) and Chuck Schumer (D-NY) in September. Warren and Schumer also called on the next President to cancel $50,000 in student loan debt for every borrower.

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