On this edition of Your Call, we get an update on the student debt crisis. Around 45 million borrowers owe a collective $1.7 trillion in student debt. Federal student loan payments and interest are on pause until January 31, 2022.
Progressive Democrats and student loan borrower advocacy groups are still urging President Biden to cancel $50,0000 or more in student debt for every borrower. That plan would make 36 million borrowers debt-free. What will it take to forgive student debt?
Natalia Abrams, president and co-founder of StudentDebtCrisis, a non-profit organization dedicated to student loan debt reform
Whitney Barkley-Denney, Senior Policy Counsel at the Center for Responsible Lending, a nonprofit research and policy group whose purpose is to push for policies that curb predatory lending
Web Resources:
The Washington Post, Michelle Singletary: Student loan relief is extended until Jan. 31, 2022. Here’s what you need to know.
Money, Casey Bond: Biden Has Forgiven $9.5 Billion in Student Debt. What About the Other $1.6 Trillion?
Forbes, Zack Friedman: Student Loans Were Supposed To Be Paused, But $40 Million Of Student Loan Debt Was Garnished Anyway
Business Insider, Hillary Hoffower and Madison Hoff: The case for cancelling student debt isn't political — it's practical. Here are the benefits of erasing $1.6 trillion, no strings attached.
BuzzFeed News, Venessa Wang: Young People Coping With Mounting Debt Say No One Has Their Backs. The Pandemic Has Left Them On The Brink Of Ruin.
