Democratic Attorneys General Urge Universal Federal Student Loan Relief

  • A group of 17 Democratic AGs, led by Massachusetts AG Maura Healey and New York AG Letitia James, sent a letter to the U.S. Congress urging the adoption of the House and Senate resolutions calling on the Biden administration to cancel up to $50,000 in federal student debt for every federal student loan borrower.
  • The letter argues that broad cancellation of federal student loan debt will provide economic relief to millions of borrowers and a boost to the economy.
  • The letter further notes that many federal student loan borrowers were struggling to repay their loans even before the COVID-19 pandemic, that the current repayment programs in place do not provide sufficient opportunities for borrowers facing financial hardship to manage their debts during the current economic crisis, and that failure to manage federal student loan payment can have catastrophic consequences for borrowers, including wage garnishment, loss of income tax credits, and seizure of social security payments.