'We urge you to continually find ways to use your authority to bring down student debt, address the rising cost of college, and make postsecondary education affordable for all students who choose that path.'
While the president announced his initial plan to forgive up to $20,000 per borrower under a 2003 federal law last August, the U.S. Supreme Court's right-wing supermajority"We are extremely disappointed and concerned that the Supreme Court substituted politics for the rule of law to deny as many as 43 million hard-working Americans life-changing relief from crushing student loan debt," 87 lawmakers wrote to Biden.
Under the first plan, "an estimated 20 million people would have seen their student debt balances eliminated entirely, including nearly half of all Latino borrowers and one out of four Black borrowers," the letter notes, highlighting how it would have narrowed the racial wealth gap.
Federal student loan repayments were initially paused under former President Donald Trump in response to the pandemic, a policy extended under Biden.
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