Democratic Sens. Chuck Schumer of New York and Elizabeth Warren of Massachusetts joined Democratic Massachusetts Rep. Ayanna Pressley in a Tuesday press conference, calling on President Joe Biden to suspend and cancel federal student loan payments.
Schumer requested that Biden continue the federal pause on debt payments, referencing the “essential relief to borrowers and their families during this economic and public health crisis” that the suspension has purportedly provided. Schumer argued that it would be “unfair” and “cruel” to make borrowers repay their debts now.
WASHINGTON, DC – JULY 22: (L-R) Senate Minority Leader Chuck Schumer (D-NY) speaks as Sen. Elizabeth Warren (D-MA) looks on during a news conference concerning the extension of eviction protections in the next coronavirus bill. (Photo by Drew Angerer/Getty Images)
Schumer continued, asking the president to use his executive authority to unilaterally forgive tens of thousands of dollars of student loan debt for each borrower. (RELATED: ‘Life-Changing’: Schumer Urges Biden To Pay Out $50,000 In Debt For Students)
“We are also continuing to call on President Biden to use his existing legal authority to cancel up to $50,000 of student debt,” Schumer stated. “This pause has actually shown how important canceling student debt is to borrowers and to our economy”
Schumer also alleged that student debt has “exacerbated” “racial inequality” and that canceling debt is necessary to deal with “decades of economic injustice and racial inequality.” (RELATED: KOLB: Canceling Student Loan Debt Is A Really Bad Idea)
In a February town hall, Biden denied that he had the authority to forgive tens of thousands of dollars in student debt. “I am prepared to write off the $10,000 debt but not fifty because I don’t think I have the authority to do it,” the president stated at the time, according to The Daily Wire.
However, Schumer said Tuesday that “All President Biden has to do is flick his pen and sign it.”
