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Eighty-one million Americans elected Joe Biden to do everything he can to ensure a swift, equitable recovery — without waiting for Congress. President Biden must use his authority to cancel $50,000 in student debt for every person with federal loans. Today.
More than 40 million Americans hold $1.7 trillion of student loan debt — whether they graduated from college or graduate school or not. The economic devastation of the COVID-19 pandemic has only compounded this crisis.
In my district covering Rockland and Westchester counties, thousands of people in their 20s and 30s have to stay at home with their parents because they can’t afford our extremely expensive cost of living. That’s not because they did anything wrong. It’s because they did exactly what our country encourages them to do: pursue a degree and their professional aspirations. But financial security has remained elusive. The cost of four-year college skyrocketed while wages have remained stagnant. As a result, millions of people suffer from enormous debt.
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