BREAKING NEWS! Moments ago, President Biden announced the cancellation of
up to $20,000 of student debt for as many as 43 million Americans.

Nearly 8 million people may be eligible to receive relief automatically,
with a forthcoming website making it simple for others to apply.

President Biden unified Democrats in the 2020 election in part by turning
one of Elizabeth Warren's most popular plans into a campaign promise. PCCC
members worked long and hard to achieve this -- with thousands of us
taking action this past year. Our sister organization, P Street (the
progressive alternative to K Street), engaged the Biden Administration and
congressional leaders in advance of today’s historic announcement.

In dollar terms, this bold move represents a bigger investment than the
G.I. Bill -- in young people and millions of others.

In advance of the 2022 election, we all can do our part to remind voters
what President Biden and Democrats in Congress can accomplish when we have
power and act boldly on issues that positively impact millions of
Americans.

[ [link removed] ]Click here to share Elizabeth Warren's Facebook post praising the
President's big announcement and [ [link removed] ]here to share it on Twitter. And
forward this news to others.

Also, [ [link removed] ]please chip in here to P Street, our progressive lobbying shop,
and the PCCC's work to elect progressive Democrats to Congress who will
build on this historic accomplishment.

We applaud the work that organizers, students, and advocates -- including
thousands of PCCC members -- across the country have put into this fight
and the Biden Administration for heeding their call on behalf of student
borrowers across the country.

And, we will keep working with the Biden Administration, Senator Warren,
and other leaders to reduce college costs and debt, and create a stronger
economy for working families.

Now, we have an election to win and voters to share this news
with! [ [link removed] ]Click here to share Elizabeth Warren's Facebook post praising the
President's big announcement and [ [link removed] ]here to share it on Twitter. And
forward this news to others.

Then, [ [link removed] ]please chip in here to P Street, our progressive lobbying shop
that has been working behind the scenes to get this done.

Thanks for being a bold progressive.

-- The PCCC Team ([ [link removed] ]@BoldProgressive)

P.S. You can also share our Twitter thread showing how this got done.
[ [link removed] ]Click here to RT!

TIMELINE -- CANCEL STUDENT DEBT:

[ [link removed] ]April 22, 2019: Elizabeth Warren unveiled her bold plan to cancel
student debt during her 2020 presidential campaign.

[ [link removed] ]May 8, 2019: Her plan was [ [link removed] ]received positively by millions of
Americans, with Morning Consult reporting on polls showing [ [link removed] ]"Voters
Favor Warren’s Student Debt Plan — Including Those Who Never Had Such
Loans."

[ [link removed] ]March 14, 2020: Shortly after Sen. Warren withdrew from the race,
[ [link removed] ]Joe Biden adopted her popular student loan cancellation policy.
Specifically, he promised to cancel "[ [link removed] ]a minimum of $10,000 of student
debt per person, as proposed by Senator Warren."

[ [link removed] ]March 19, 2020: Sen. Warren and colleagues unveil [ [link removed] ]a bold plan to
cancel student loan payments for the duration of the Coronavirus emergency
and provide a minimum $10K payoff for all federal student loan borrowers

[ [link removed] ]September 17, 2020: Senator Chuck Schumer endorsed Sen. Warren’s
proposal and actively joined Warren in lobbying the Biden administration
to be bold.

[ [link removed] ]March 6, 2021: Senator Warren and Senator Menendez’s [ [link removed] ]Student Loan
Tax Relief Act passes, ensuring that millions of borrowers won’t face a
surprise tax bill if their loans are cancelled.

[ [link removed] ]April 1, 2021: The White House asked Education Secretary Miguel
Cardona for a memo on the legal authority President Biden has to cancel up
to $50,000 in student loan debt.

[ [link removed] ]May 3, 2021: The Biden Administration appointed Warren ally and former
director of the Consumer Financial Protection Bureau, Richard Cordray, to
be the Chief Operating Officer of Federal Student Aid.

[ [link removed] ]April 26, 2022: President Biden signaled that the administration was
open to $10,000 of student loan debt cancellation. Those in the meeting
said that Biden was "[ [link removed] ]incredibly positive" about canceling student
debt.

[ [link removed] ]June 1, 2022: President Biden canceled all remaining loans for 560,000
student loan borrowers who attended Corinthian College between 1995 to
when it closed in 2015.

[ [link removed] ]August 10, 2022: It became public that the White House met with
student debt activists and advocacy groups, including PCCC’s sister
organization P Street, to listen to ideas that they have regarding student
loans. White House Press Secretary Karine Jean-Pierre said President Biden
will "[ [link removed] ]have something by August 31."

[ [link removed] ]August 24, 2022: President Biden [ [link removed] ]announced he will be cancelling
up to $20,000 in student loan debt, with nearly [ [link removed] ]8 million borrowers
eligible to receive automatic relief with relevant income data that is
already available to the U.S. Department of Education. [ [link removed] ]Senator Warren
celebrated the announcement and explained how this will positively impact
Americans.

 

 

 


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