Sen. Schumer pushes Biden to cancel $50K in student loans

News

ROCHESTER, N.Y. (WROC) — Sen. Chuck Schumer called student debt a huge burden on the shoulders of tens of millions of Americans who are now struggling financially because of the pandemic.

Schumer, along with Mass. Sen Elizabeth Warren, introduced a resolution for President-Elect Joe Biden to cancel up to $50,000 in federal student loan debt.

Schumer said college should be a path to opportunity, not a forever burden.

“The bottom line is that college should be a ladder up but student loan debt makes it an anchor down. Far too many students and graduates, some years out of school, student loans and federal student loans are becoming a forever burden. They stand in the way of people getting the job they want, they stand in the way of buying a home, starting a family, of buying a car — and they hurt the economy dramatically.”

Schumer wants Biden to forgive student debt on his first day of presidency. The funding would come from the Higher Education Act.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

COVID-19 Vaccine Tracker

Trending Stories

Latest News

More News