Today, Senate Minority Leader Chuck Schumer (D-NY) and Senator Elizabeth Warren (D-MA) introduced a resolution calling on the president to use executive action to broadly cancel student debt. The resolution comes as nearly 43 million Americans hold more than $1.5 trillion in federal student loan debt.
In response to the resolution, Kyle Southern, Policy and Advocacy Director for Higher Education and Workforce for Young Invincibles, issued the following statement:
“The crippling effects of student debt have hamstrung one generation and threaten to hold back another. If young people are to have what they need to compete in a global economy, a high-quality higher education must be accessible without the burden of debt or financial hardship.
We applaud the leadership shown by Leader Schumer and Senator Warren, along with their colleagues joining them on this resolution, in calling for the administration to do something bold about the weight of student debt borne by tens of millions of Americans. As we have called for in our 100 Day Plan for Young America, the president has the power to provide real relief for student borrowers. He should use that power today to put young people on more sound financial footing and give a boost to our ailing economy.”