As the cost of living rises and the economy is on the verge of a recession, many Americans are hoping that the Biden administration will fulfill a key campaign promise by waiving their student loan debt.
However, after 18 months in office, many voters are beginning to question if the promise of loan forgiveness for all federally held loans of $10,000 or $50,000 will become a reality for the general public.
Rep. Ilhan Omar has joined the growing number of Minnesotans demanding more information from Vice President Joe Biden until a decision is made, according to a recent announcement.
Secretary of Education Miguel Cardona was asked by Omar to provide information and a schedule on how the Department of Education plans to implement President Biden’s executive order to cancel student debt.
“President Biden has publicly stated that he plans to cancel student debt. Under the expected executive order by President Biden, millions of student loan borrowers will be eligible to receive the benefit of loan cancellation,” the letter signed by multiple members stated.
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“It is important that borrowers get relief quickly and aren’t hampered by unnecessary roadblocks and obligations. The American public will depend on your agency’s ability to deliver debt cancellation quickly and efficiently, no matter the effort and resources required.”
The White House has hinted that Vice President Biden will take unilateral action to eliminate federal student loan debt within the next several months, according to the statement. To date, the Department of Education has canceled a total of $18.5 billion in student debt to more than 750,000 students in an effort to “remedy years of administrative failures made worse under the previous administration.”
“As President Joe Biden moves toward fulfilling his promise of canceling student loan debt, we write to ask how the Department of Education is preparing to carry out the executive order in a timely manner,” the letter states. “For this reason, we are writing to you to learn more about the specific plans your agency has made to implement the executive order. Specifically, we would like a comprehensive timeline for implementing the cancellation including when your agency plans to begin canceling these loans and when you expect the process of canceling loans under the executive order to be completed.”
At the end of May, Minnesota’s Attorney General, Keith Ellison, stated that the state has joined an eight-state coalition pressing President Biden to completely erase all federal student loan debt owed by Americans nationwide.
An earlier multi-state group called for the cancellation of up to $50,000 in federal student loan debt by every federal student loan borrower. Ellison was a member of that group. For misled MSB/Globe University students, his office secured $42 million in compensation in 2021. For more such updates do follow us only on leedaily.com