The debate over canceling student loan debt is getting louder as an impasse continues in Washington about how many thousands of dollars in student debt to cancel. But there are also arguments that debt forgiveness could change the financial outlook for Black borrowers, particularly Black women.
Although the Biden-Harris administration recently extended the moratorium that pauses student loan repayments until Aug. 31, members of Congress, advocates, and borrowers themselves are still calling on President Joe Biden to go further with the cancellation of student loan debt.
President Biden has previously supported eliminating $10,000 per borrower, but members of his party, like Senate Majority Leader Chuck Schumer, have called for canceling at least $50,000.
One of those Democrats leading the charge for student cancellation is U.S. Senator Elizabeth Warren of Massachusetts.
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