“we can’t afford to wait for Congress to act”
Why stop there? Why not wipe out our national debt as well?
Yahoo News reports:
Elizabeth Warren says she will cancel 42 million borrowers’ student debt — on Day 1
Presidential candidate Elizabeth Warren doesn’t just want to cancel student debt for 42 million borrowers — she wants to do it on Day 1 of her presidency.
In a new plan released Tuesday, the Massachusetts senator wrote that after years as a policymaker on Capitol Hill, “I learned two key things. First, the student debt crisis is deeper than many experts thought was possible. And second, the Department of Education has broad authority to end that crisis.”
Hence, “we can’t afford to wait for Congress to act,” she added. “So I will start to use existing laws on day one of my presidency to implement my student loan debt cancellation plan that offers relief to 42 million Americans.”
Warren’s accelerated timeline of cancelling student debt for a wide swath of borrowers was noteworthy, experts said, because she was going to give the Education Department much more power to do so.
“What she’s saying is that the [Education Department] has some existing authority under law to either modify or cancel student loans, and that she would use that authority to enact a big chunk of her legislative proposal on essentially Day 1 or something close to that,” Ben Miller, vice president for postsecondary education at the Center for American Progress, told Yahoo Finance.
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