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Millions of young Americans are burden by student loans that prevent them from living the American dream. These loans were caused by the high cost of college that these young people couldn’t pay out-of-pocket. Why are college administrators and banks becoming rich by exploiting our youth’s urge to be educated? This is wrong, and Congress must act now.
This is why Students for Justice support Universal Student Loan Forgiveness:
Sponsored by Congresswomen Ayanna Pressley and Ilhan Omar, this proposal goes much further than the Senate’s:
- $30,000 in federal student loans would be forgiven. Private student loans would not be eligible.
- The $30,000 would not be treated as “taxable income” to the borrower.
- For student loan borrowers who continue to have student loan payments due even after the $30,000 in cancellation, the government would assume their monthly payments during the duration of the national emergency so borrowers can remain on track for loan forgiveness programs or loan payoff.
“There Are Now Five Plans to Forgive Student Loans – How Do They Compare?”
Adam S. Minsky, Esq.Senior Contributor
I’m an attorney focused on helping student loan borrowers.
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