Joe Biden should pass executive order to cancel student debt, Schumer says

Joe Biden should pass executive order to cancel student debt, Schumer says


President-elect Joe Biden should issue an executive order to cancel college student debt when he gets control of the White House, Sen. Democratic leader Chuck Schumer said.

“Getting rid of student debt. I have a proposal with [Massachusetts Sen.] Elizabeth Warren that the first $50,000 of debt be vanquished, and we believe that Joe Biden can do that with the pen as opposed to legislation,” Schumer said during an interview with The.Ink.

In his own press release, the New York senator said his plan would provide complete forgiveness of student loans for more than 75% of borrowers across the country and at least some debt forgiveness for 95% of people with student loan debt.

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“This is especially good news for the nearly 2.4 million New Yorkers with outstanding student loans and a cumulative debt of $89.5 billion as of March 2020,” Schumer said.

Schumer said addressing the student loan crisis will be one of the first actions he will

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