Sen. Schumer pushes Biden to cancel $50K in student loans

ROCHESTER, N.Y. (WROC) — Sen. Chuck Schumer called student debt a huge burden on the shoulders of tens of millions of Americans who are now struggling financially because of the pandemic.

Schumer, along with Mass. Sen Elizabeth Warren, introduced a resolution for President-Elect Joe Biden to cancel up to $50,000 in federal student loan debt.

Schumer said college should be a path to opportunity, not a forever burden.

“The bottom line is that college should be a ladder up but student loan debt makes it an anchor down. Far too many students and graduates, some years out of school, student loans and federal student loans are becoming a forever burden. They stand in the way of people getting the job they want, they stand in the way of buying a home, starting a family, of buying a car — and they hurt the economy dramatically.”

Schumer wants Biden to forgive student debt on his first day of presidency. The funding would come from the Higher Education Act.

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