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AG James calling for $50K per student in loan forgiveness

Feb 21, 2021 5:45 am

Evan Anstey is reporting for wivb [dot] com state Attorney General Letitia James is leading a multi-state coalition of 17 different attorneys general calling for the cancellation of up to $50,000 in federal student loans for all borrowers nationwide. Senate Resolution 46 and House Resolution 100 call on President Joe Biden to use his authority to make this happen. “Student loan debt holds too many struggling borrowers down and prevents them from achieving financial stability,” James says. “...Cancelling up to $50,000 in student loan debt will not only free these borrowers to move forward with their lives, but will simultaneously help close the racial wealth gap and move our economy to new heights. ...” According to James' office, as many as one in five federal student loan borrowers are in default and only two percent of borrowers who applied for loan discharges under the Public Service Loan Foregiveness program have been granted a discharge. Read more at wivb [dot] com.