The Senate Majority Leader seems optimistic that massive student loan relief is in the future for millions of federal borrowers. During a virtual summit hosted by the Student Debt Crisis Center on Wednesday, Sen. Chuck Schumer – a leading proponent of widespread student loan write-offs in Congress – reiterated his belief that President Joe Bidenko could easily oust signing an executive decree. He also noted that after the fourth extension of Biden’s student loan defaults, a wide-ranging student debt cancellation should be the next step, and said the White House could welcome the idea. “Make no mistake: this pause is not going to last forever and the cancellation of the student debt is the way,” Sumer said. “We are working on it,” Sumer added. “We are making progress, children. We are making progress. The White House seems more open to this than ever.” Following the extension of the student loan waiver, with interest exemption, until Aug. 31 last week, both Democrat and Republican lawmakers have voiced their grievances for the additional temporary relief. The GOP argued that further relief was not justified and said it would hurt taxpayers and the economy, while Democrats said an additional four months was not enough – the moratorium had to be extended at least until next year to correct deficiencies in the student loans and give time for debt relief. Lawmakers have made clear their views on easing student loans, but Biden himself has not. He promised during his campaign to approve $ 10,000 to write off student loans, but has since remained silent on the issue, despite targeted relief from certain groups of borrowers, such as those deceived by for-profit schools. White House spokeswoman Jen Psaki has repeatedly said that if Congress sends Biden a debt forgiveness bill, she will be happy to sign it, but Sumer dismissed the idea last year, saying the bill would not be passed. in the current party Congress. More recently, however, Psaki told reporters that Biden “has not ruled out” the general cancellation of the student debt, but later told Fox News that she suspects borrowers will have to make payments “sometime” under Biden, ruling out possibly complete forgiveness. However, Democratic lawmakers say they want some form of permanent relief. Nearly 100 of them recently called on Biden to cancel “a significant amount” of student debt, and while many have pledged a $ 50,000 pardon as a good starting point, Congressional Progressive Congress President Pramila Jayapal recently said that this goal It is time for Biden to “make progress” on the issue. This does not mean that they do not support the full relief of the student loan. “We want our young people to realize that they can have a good future,” Sumer said. “One of the best ways to do that is to cancel student debt, get rid of $ 50,000, and even increase it after that.”
