Tag Archives: cancel student debt

photo of a student borrower looking sadly at the sky - Photo by Matese Fields on Unsplash

Statement: AFR Applauds Schumer, Warren Resolution Calling on Trump to Cancel Student Debt

We applaud Senate Majority Leader Chuck Schumer and Senator Elizabeth Warren’s Resolution calling on the Trump Administration to cancel student debt. Cancelling student debt will provide both immediate financial relief to millions of Americans, and crucial economic stimulus for everyone during this protracted crisis — boosting GDP and job creation at a time of intense labor shocks and economic contraction.

photo of a student borrower looking sadly at the sky - Photo by Matese Fields on Unsplash

News Release: The CARES Act fails to provide sufficient relief to federal student loan borrowers

The 43 million federal student loan borrowers are not getting meaningful relief from the CARES Act. It leaves an estimated 9 millions of federal student loan borrowers without any relief at all, does not guarantee that borrowers won’t face large principals when they return to repayment, and doesn’t include cancelling student debt, a move that both provides crucial relief to distressed borrowers and stimulates a fast-contracting economy. 

photo of a student borrower looking sadly at the sky - Photo by Matese Fields on Unsplash

News Release: Trump administration fails to offer meaningful student debt relief

The Trump Administration’s minor tweaks for some federal student loan borrowers are insufficient and fail to tackle the crisis. The Department of Education announced that borrowers with federally held student loans will have the option to suspend payments, but will need to contact their servicer in order to request it. This requires effort on the part of borrowers who are already under stress. This is coming at a time when many student loan servicers are closing call centers or reducing hours. Worse still, it leaves out some federal student loan borrowers whose loans are not federally held. 

a student with books - Photo by Element5 Digital on Unsplash

Joint Statement: Student Borrower Advocates Praise Senate Democrats’ Plan to Cancel Federal Student Debt

The 20 undersigned community, civil rights, consumer, and student advocacy organizations applaud the Senate Democrats’ student debt cancellation proposal. The plan will take decisive action to get immediate and impactful relief to millions of Americans. It will enable many economically distressed borrowers to focus on their own personal safety and that of others, while also freeing up extra dollars they can use to put back into the economy. 

cancel student debt

News Release: Senate Democrats Plan to Cancel Student Debt Would Stimulate the Economy and Provide Crucial Relief to Borrowers

FOR IMMEDIATE RELEASE March 19, 2020 CONTACT: Alexis Goldstein, alexis@ourfinancialsecurity.org Senate Democrats Plan to Cancel Student Debt Would Stimulate the Economy and Provide Crucial Relief to Borrowers Statement from Alexis Goldstein, Senior Policy Analyst, Americans for Financial Reform:  “The Senate Democrats plan to cancel student