Senator Elizabeth Warren makes her final speech for the cancellation of student debt in the next stimulus … [+]
Democratic Senator Elizabeth Warren (D-MA) is making her final speech to include canceling the student debt in the next stimulus package, which is expected to occur in the next two weeks. In two recent tweets, Warren reiterated her position linking two Forbes articles on student loan forgiveness in the next stimulus.
Senator Warren has been a leader on student debt issues in her time in the Senate, taking over for-profit universities and lobbying the Obama administration to grant student debt forgiveness to scammed students. In her presidential campaign, Warren proposed canceling student debt along with her plan to make public universities unencumbered.
When the coronavirus swept the nation and shut down the economy, lawmakers were coming up with various ideas to bring relief to the American people and stimulate the economy. Warren lobbied Congress to make payments to student borrowers during the national emergency and includes a minimum of $ 10,000 student debt cancellation for each borrower in the coronavirus relief package.
Senator Warren is a minority in the Senate, but he influences both the Senate and many in the House. In fact, Warren got a number of Senate Democrats on board with the proposal, including Senate Minority Leader Chuck Schumer (D-NY) and Senate Education Committee Member Patty Murray (D-WA).
Speaker of the House of Representatives Nancy Pelosi and other Democrats in the House of Representatives also supported the idea. Warren also got former Vice President Joe Biden to back the $ 10,000 student loan forgiveness proposal.
The CARES Law did not include the cancellation of student debt, but suspended payments for six months, without interest. Now, Congress is considering another round of coronavirus relief, and Warren and others are pushing for the cancellation of student debt to be included.
Senator Warren is arguing that student loan forgiveness is a good tool to stimulate the economy. Warren also says that canceling student debt was one way to help bridge the racial wealth gap. She is making her closing speech to include student loan forgiveness in the final relief, but it is not yet clear if it will succeed.
House Democrats eventually pulled out of their universal debt relief proposal and limited it to distressed borrowers due to cost. Senate Majority Leader Mitch McConnell (R-KY) said the next package will not be that big. Senator Warren has been known for her effectiveness and willingness to fight, so something related to student loans is likely to be included, even if that’s just an extension of the student loan disruption.
Related reading:
What the coronavirus booster means for your student loans
Pelosi Proposes $ 1,200 Stimulus Checks, $ 10,000 Student Loan Forgiveness, and College Money
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