Sen. Elizabeth Warren (D-MA) said at a press conference on Tuesday on Capitol Hill that one reason for a law to cancel billions of dollars of student loan debt is to address the black/white wealth gap due to the federal government’s “decades” of racial discrimination.
“As everyone in this room knows there is a black-white wealth gap in this country that has been persistent and growing,” Warren said at a press conference she held with House Majority Whip James Clyburn (D-SC) to announce the Student Loan Debt Relief Act.
Warren and Clyburn said their bill, if signed into law, would forgive up to $50,000 of loan debt to each of the estimated 45 million Americans who have student loan debt and also would reduce the interest rate for remaining loan balances.
Warren said a college education is sold as something one needs “to get a ticket into America’s Middle Class” but that it comes at a steep cost if one has to borrow money, and race also plays a role.
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5 comments:
That is bullshit. No one has forgiven any debts that I made.
The same people that complain about having to pay off their $20,000.00 student loans will happily go out and buy a $40,000.00 car. No problem. How about this, you signed your name on the loan, took the money so pay it back to the American people that you borrowed it from. And tell Pocahontas to kiss my ass.
Yo, Fauxahontas! How about paying off my mortgage?
Uh no Liz. You are wrong.
I have an outstanding student loan for my daughter. Last week, I received a letter from the loan servicing company (Mohhelia) informing me that, if I work for a non-profit or government employer for a certain amount of time, my loan can be forgiven or forbeared.
WTF??? What does it matter who I work for?
And if it's for real, how in God's name did it pass?
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