John,
Nearly one year ago, President Joe Biden asked the Secretary of Education
to determine if he has the legal authority to cancel student loan debt.
On January 25, Warren and 80+ members in both houses of Congress sent a
letter to the White House—urging Biden to release the legal memo and to
then cancel student debt.
Here’s the thing, we already know the answer: Yes! He can.
Congress has already granted authority to broadly cancel student debt
under section 432(a) of the Higher Education Act of 1965, which gives the
Secretary of Education the right to "... compromise, waive, or release any
right, title, claim, lien, or demand, however acquired, including any
equity or any right of redemption."
Let's be clear, this is the same authority the Department of Education
used to enact small and temporary relief for federal student loan
borrowers during the COVID-19 pandemic.
The bottom line is the Biden administration has the authority. The
question is: will they use it?
The answer is up to us.
[ [link removed] ]Sign the petition to President Biden: Release the memo, and then cancel
student debt.
Add your name: [link removed]
The administration is trying to decide right now how big they should go to
help the millions of Americans that are struggling with crippling student
debt, that's why they need to hear from us immediately.
Canceling student loan debt will have numerous benefits, from helping to
close the racial wealth gap to boosting the economy by giving trillions of
dollars back to millions of hard-working Americans.
When progressives like Bernie Sanders, Elizabeth Warren, and even
moderates like Chuck Schumer and James Clyburn are all pushing for student
loan debt cancellation, you know that we have real momentum.
But momentum alone is not enough. President Biden needs to know millions
of Americans are demanding action.
[ [link removed] ]Join DFA in calling on President Biden to release the memo and cancel
student debt.
Add your name: [link removed]
The President has the authority to cancel student debt with the stroke of
the pen.
- Tre
Tre Graves
Digital Organizing Coordinator
Democracy for America
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