A coalition of 17 state attorneys general is calling for the cancellation of up to $50,000 in federal student loan debt for all borrowers.
The Democratic attorneys general, led by New York Attorney General Letitia James and Massachusetts Attorney General Maura Healey, sent a letter to congressional leaders on Friday supporting resolutions that call on President Biden to use executive action to forgive outstanding student loans.
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“The existing repayment system for Federal student loans provides insufficient opportunity for struggling borrowers to manage their debts or recover from the current economic crisis,” the attorneys general wrote. “Broad cancellation of Federal student loan debt will provide immediate relief to millions who are struggling during this pandemic and recession, and give a much-needed boost to families and our economy.”
The letter noted that borrowers were struggling with student debt long before the coronavirus pandemic, and that people of color have been disproportionately affected.
Read more at The Hill.