As they promised a little over a month ago, Sen. Elizabeth Warren, D-Mass., and House Majority Whip James E. Clyburn, D-S.C., have introduced legislation in the Senate and House to eliminate up to $50,000 in student loan debt for 42 million Americans.
The Student Debt Relief Act would cancel student loans of 75% of student loan borrowers and provide debt relief for 95% overall.
“My very first bill when I got to the Senate was legislation to tackle the growing student debt crisis because I was sick of Washington allowing the wealthy to pay less, while burying tens of millions of Americans in mountains of student loan debt,” Warren said at a press conference in the Senate Dirksen building. “Since then, Washington has only allowed this crisis to get worse — especially for people of color. Enough is enough.”
“Post-secondary education should be the springboard to enable students to achieve their dreams not the impediment that prevents the realization of those goals,” Clyburn said.