Congress

Warren and Clyburn team up on effort to cancel student loan debts for 95 percent of borrowers

Legislation to be introduced in the weeks ahead

House Majority Whip James E. Clyburn is leading the House effort to cancel student loan debts. (Tom Williams/CQ Roll Call file photo)

Sen. Elizabeth Warren will be joining House Majority Whip James E. Clyburn in an aggressive effort to cancel student loan debt.

“For far too many students and families, the cost of higher education has meant daunting debt and a lifetime of student loan repayments,” Clyburn, a South Carolina Democrat, said.

“We need to allow people to get the kind of post-secondary education that will help them achieve their dreams and aspirations, and earn a living to become productive members of society,” Clyburn added. “I look forward to working with Senator Warren on this legislation that will provide affordable access to education for all Americans and attempts to make amends for the under investment made in higher education at the state and federal level for over two decades.”

Warren, D-Mass., and other 2020 hopefuls will be gathering on Clyburn’s home turf next weekend, when the South Carolina Democratic Party holds its convention June 22 and Clyburn hosts his “World Famous Fish Fry” on June 21.

According to a statement provided to CQ Roll Call, the student loan debt relief legislation would terminate up to $50,000 in student loan debt per borrower. The two lawmakers say the proposal, which they plan to introduce sometime in the coming weeks, would help 95 percent of borrowers, with three-quarters of people with student loans seeing their debts wiped out entirely.

The statement highlighted the oversized effect student loan debt has had on members of minority groups.

“The student debt crisis is real and it’s crushing millions of people — especially people of color,” said Senator Warren. “It’s time to decide: Are we going to be a country that only helps the rich and powerful get richer and more powerful, or are we going to be a country that invests in its future?”

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