AFL-CIO presses Biden to cancel student debt




  • In Business
  • 2022-05-12 17:14:54Z
  • By The Hill
 

The AFL-CIO on Thursday urged President Biden to forgive student loans, putting additional pressure on the White House to cancel at least some of the nation's $1.6 trillion in student debt.

"The Biden administration's decision to continue to pause student debt has made a tremendous difference in the lives of so many borrowers, but these borrowers still live with the uncertainty of not knowing when they will need to drastically alter their finances in order to begin repaying their loans," AFL-CIO President Liz Shuler said in a statement.

"Now is the time to cancel, not collect, student debt."

The statement comes after President Biden told reporters earlier last month that his administration is planning "additional debt forgiveness." The Biden administration has canceled $17 billion in student debt, roughly 1 percent of the nation's total, and recently extended a freeze on student loan payments until Aug. 31.

The White House is considering expunging at least $10,000 in student debt per borrower, a move that would fulfill a key Biden campaign promise.

Biden, who pledged to be the most pro-union president in history, has close ties with the AFL-CIO, the nation's largest labor federation that represents 12.5 million union workers.

"Organized labor was built on the foundation of creating a pathway to the middle class for everyone, but skyrocketing student loan debt has become an insurmountable obstacle to achieving this goal," Shuler said.

The labor federation joins a host of influential organizations in calling for student debt cancellation. The NAACP last month urged Biden to cancel at least $50,000 in student debt, making the case that $10,000 "is not enough."

For the latest news, weather, sports, and streaming video, head to The Hill.

COMMENTS

More Related News

White House resumes Covid briefings after six-week hiatus as cases rise
White House resumes Covid briefings after six-week hiatus as cases rise

New head of Covid response calls on Congress for additional funding to pay for vaccines and treatments Ashish Jha, the White House coronavirus response...

U.S. to study whether longer Paxlovid course needed to combat reinfections
U.S. to study whether longer Paxlovid course needed to combat reinfections
  • US
  • 2022-05-18 16:25:10Z

The U.S. National Institutes of Health is in talks with Pfizer Inc about studying whether a longer course of the drugmaker's COVID-19 antiviral treatment...

Officials say more areas of US may see mask recommendations
Officials say more areas of US may see mask recommendations
  • World
  • 2022-05-18 16:06:31Z

COVID-19 cases are increasing in the United States - and could get even worse over the coming months, federal health officials warned Wednesday in urging...

Senators announce bipartisan deal to help veterans exposed to burn pits
Senators announce bipartisan deal to help veterans exposed to burn pits

The top Democrat and Republican on the Senate Veterans' Affairs Committee announced a deal Wednesday that would help military veterans who have been exposed ...

How the Biden administration let right-wing attacks derail its disinformation efforts
How the Biden administration let right-wing attacks derail its disinformation efforts

On the morning of April 27, the Department of Homeland Security announced the creation of the first Disinformation Governance Board with the stated goal to "...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Business