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"This is about the president keeping his word."Īarthi is a reporter for Yahoo Finance.
"This is about being responsive to the multi-generational, multiracial coalition, which decisively elected him," she stressed.
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Pressley also stressed that student debt is also a multi-generational issue since many borrowers include parents who took out Parent PLUS loans for their children. § 1082(a)(4).” (Toby Merrill, who founded the Project on Predatory Student Lending at Harvard Law School and co-authored the legal analysis, currently works for the Education Department.) The basic argument for broad cancellation, as detailed by the Legal Services Center of Harvard Law School, is that the Education Secretary has the power “to cancel existing student loan debt under a distinct statutory authority - the authority to modify existing loans found in 20 U.S.C. He has the authority, and I think he has a mandate from this electorate." "And that is why we need broad based student debt cancellation. "At the end of the day, we want to uplift and alleviate the burden for as many people as possible," Pressley said. A recent poll by Harvard found young Americans overwhelmingly favor some form of action by the federal government on student loans while only 38% favored total debt cancellation. Student loans were a big topic during the 2020 general election. (Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty Images) 'This is about the president keeping his word'
Ayanna Pressley, D-Mass., speaks during a news conference reintroducing a resolution calling on the President to take executive action to cancel up to $50,000 in debt for federal student loan borrowers in Washington on Thursday, Feb.
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that he dropped his infamous laptop off at a Delaware Mac Repair shop in 2019. The change of heart was welcome news for Pressley, as well as many advocates and student debtors who have been pushing for debt cancellation for years. 95 (15 off) FREE shipping Add to Favorites Jesus Sneakers, Jesus Shoes. But I’m in the process of taking a hard look at whether or not there are going to - there will be additional debt forgiveness, and I’ll have an answer on that in the next couple of weeks." "I am not considering $50,000 debt reduction. "I am considering dealing with some debt reduction," Biden said during a press conference. During his administration, prominent Democrats - including Pressley - have repeatedly urged a seemingly skeptical Biden to enact broad-based cancellation of up to $50,000 via executive action (as opposed to legislation passed by Congress). The president's change of heart on the issue is noteworthy.īiden backed the forgiveness of $10,000 in student loan debt on the campaign trail in 2020. REUTERS/Jonathan Ernst 'Next couple of weeks' Senate candidates Jon Ossoff and Raphael Warnock at a rally ahead of runoff elections in Atlanta, Georgia, U.S. President-elect Joe Biden campaigns for Democratic U.S.
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