Elizabeth Warren And Chuck Schumer Call For $50,000 In Student Debt Cancellation
Article/Op-Ed in Forbes
Gage Skidmore / Flickr
Sept. 17, 2020
Wesley Whistle wrote an article in Forbes about Senator Elizabeth Warren and Senate Minority Leader Chuck Schumer calling on the president to cancel up to $50,000 in student debt per borrower.
On a press call today, Senator Elizabeth Warren and Senate Minority Leader Chuck Schumer said they will be introducing a resolution outlining how the next president can cancel up to $50,000 in student debt per borrower.
The details have not been released but it seems to follow Warren’s plan she introduced in April 2019 when she was running for the Democratic nomination for president. Warren’s plan would have cancelled $50,000 for all borrowers earning under $100,000 a year. For borrowers earning more, the forgiveness would have phased out by $1 for every $3 earned above that. So, a borrower making $150,000 would receive $35,000 in forgiveness.
Read the full article here.