Congresswoman Discusses Racial and Economic Implications of Canceling Student Debt
“The economic anxiety and pressure caused by student loan debt is an experience far too familiar to too many…. I implore this committee and President Biden to listen to them.”
WASHINGTON – Today, Congresswoman Ayanna Pressley (MA-07) testified at a Senate Banking, Housing, and Urban Affairs Committee’s Subcommittee on Economic Policy hearing to examine the student loan debt crisis in our country. In her testimony at the hearing, which was chaired by Senator Elizabeth Warren (D-MA), Rep. Pressley discussed the racial and economic implications of canceling student debt, as well as her own experience with the student loan system.
In February, Congresswoman Pressley and Senator Warren, along with Senate Majority Leader Chuck Schumer and their colleagues, reintroduced their bicameral resolution outlining a bold plan for President Biden to tackle the student loan debt crisis by using existing authority under the Higher Education Act to cancel up to $50,000 in student loan debt for Federal student loan borrowers. The lawmakers renewed their calls earlier this month at a press conference to call on Biden to cancel up to $50,000 in student debt through executive action.