Newark Congressman Donald M. Payne Jr. is calling on the Biden administration to cancel student loan debt after news reports surfaced that the president is considering enacting the proposal.
Payne believes that canceling debt would be a historic move to address wealth inequality and reduce barriers to economic mobility, especially for Black and Hispanic borrowers who are often saddled with enormous debt.
After a meeting with the Congressional Hispanic Caucus last month, reports indicated that Biden may be more seriously considering a move to cancel student debt, in keeping with his campaign promise to eliminate up to $10,000 for student borrowers. Payne is urging him to follow through on this promise, along with members of many progressive and Democratic organizations in New Jersey.
Last month, the Department of Education announced steps that will bring borrowers closer to public service loan and income-driven repayment forgiveness by addressing historical failures in the administration of the federal student loan programs.
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