17 public attorneys are calling for forgiveness of $ 50K in student loans

A coalition of 17 state attorneys general is calling for the waiver of up to $ 50,000 in federal student loans for all borrowers.

The Democratic Attorney General, led by the Attorney General of New York Letitia James and Attorney General of Massachusetts Maura Healey sent a letter to Congress leaders on Friday who support resolutions calling President BidenJoe BidenREAD: House Democrats’ massive COVID-19 bill House panel reveals .9T embossing package Nunes lawsuit against CNN dismissed LAKE to use executive action to forgive outstanding student loans.

“The existing federal student loan repayment system does not provide enough options for struggling borrowers to manage their debts or recover from the current economic crisis,” the attorney general wrote. “Broad forgiveness of federal student loan debt will provide immediate relief to millions struggling during this pandemic and recession, and will provide a much-needed boost to families and our economy.”

The letter noted that borrowers had struggled with student debt long before the coronavirus pandemic, and that people of color have been disproportionately affected.

Congressional resolutions, the attorneys general said, “Would help remedy predatory practices that have disproportionately harmed people of color, boost our struggling economy, and create a viable future for millions of Americans.”

The letter comes as progressives increase public pressure on Biden to scrap up to $ 50,000 in student loans. Said the president during a CNN town hall Tuesday that he was willing to write off up to $ 10,000 in debt, but not $ 50,000.

It is unclear exactly how much executive power Biden has on this matter. The White House has previously said it was reviewing the powers of the president, although Biden has indicated that he would prefer to sign legislation passed by Congress to end student debt.

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