Rep. Ilhan Omar, Democrats ask Biden to release memo detailing his power to cancel student loan debt

Read the Story

Show Top Comments

The selfishness on this thread is astounding. This is a big picture idea that effects the entire economy positively. There are two generations bogged down by unpayable debt that would be free to start stimulating the economy rather than stimulating bank CEOs taints. Our salaries have not kept up with inflation. No one should be profiting off of the cost of higher education just as no one should profit off of a public library. Education promotes healthy capitalism just as the subsequent spending surge of a generation without suffocating debt.


See the plan is they are going to wait another 7-10 years for me to finish paying mine off and then they will cancel student loan debt. Also if they do cancel it after I pay mine off I will still be excited and happy because I know how life-changing it will be for a lot of people even if I don’t personally benefit.


Biden promised to cancel $10k and I think that is what we should get.


Forget the discussion about whether it will solve the underlying problem of the cost of college. Look at the bigger picture. We need a win if we are going to hold on to Congress in the 2022 midterms. Wiping any federally held debt could be a game changer for a Dem win in 2022, something we may not get with the Infrastructure bill stalled in Congress. The cost of education is a problem, but I think we need to focus on the short term gains, which, currently, are Manchin’s and Sinema’s stranglehold on Biden’s agenda. I think this is a way to do that.


Cancelling student debt would not only free up hundreds of millions of intergenerational income dollars towards housing, cars, whatever…it would set a precedent that the US government *can* do this, so you bet your bottom dollar that they won’t let it get this way again