UPDATED 2:43 PM PT – Friday, June 4, 2021
City leaders have increased pressure on Joe Biden to cancel student debt. Local governments across the nation have passed resolutions calling for the debt cancellation with hopes that Biden will step in.
After promising $10,000 in payments for student loan borrowers, Biden announced in January that the matter would be paused until September. Progressives have since been pushing for an increase of $50,000 per borrower.
Today, we’re excited to announce our #CancelStudentDebt Champion Initiative to lift up the nearly 80 members of Congress that have joined the movement calling on @POTUS @JoeBiden to cancel $50,000 per borrow in student debt. 1/5
— StudentDebtCrisis (@DebtCrisisOrg) April 29, 2021
Biden has continued to leave the subject of student loan debt out of his recent major speeches. In April, he failed to address the matter during his first joint address to Congress and received high amounts of criticism from advocates.
Nationally, there is $1.7 trillion in student loan debt as reports say the U.S. spends more on higher education than any other developed country.