"The domino effects of student debt burdens and loan servicing problems are holding back the upcoming generation," Cordray wrote in his 2020 book, "Watchdog."
The U.S Education Department announced a reorganization of a loan forgiveness plan that is expected to cancel the student debt of more than 40,000 Americans who have disabilities.
The Biden administration outlined a policy shift which will see thousands of students defrauded by for-profit institutions have their full federal loan erased.
The new policy could lead to up to $1 billion in loan forgiveness.
Foreign developers are pushing young American farmers out of the industry, taking advantage of their crippling student loan debts and inability to own property, young Midwest farmers say.
"This provision that's tucked in, I think it tells us that if you care about student debt cancellation, it is go time for you. You need to mobilize, and now is the time to organize to create the political pressure," the New York Democrat said Thursday.
Public support for eliminating student loan debt dropped 16 points when the amount of debt cancellation was increased to $50,000, according to a new Monmouth University survey.
There is a benefit of fast-tracking the elimination of copious amount of student loan debt now, leading the economically fragile into a new world of opportunity.
The study found just 13 percent of Americans said they support forgiving $50,000 in federal student loans.
Lawmakers said forgiving student loan debt would address racial equity and help low-income households.
"The case against student loan forgiveness is looking shakier by the day," Rep. Alexandria Ocasio-Cortez tweeted.
As adult dependents, we can only hope that the comprehensive stimulus checks will set a precedent for future pandemic aid.
President Joe Biden rejected the idea of unilaterally eliminating $50,000 of student loan debt during a town hall on Tuesday night.
Some 44 million Americans are in debt associated with their education, totaling around $1.5 trillion.
If current borrowers have their debt canceled, it will lead incoming students to expect that theirs will also be forgiven. There are superior alternatives Congress can pursue.
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Americans have had the option of not paying their student loans during the coronavirus pandemic, but that provision was expected to end in December 2020.
Warren also blamed DeVos for worsening student debt with DeVos' slowdown of an Obama-era debt relief program.
Senators Chuck Schumer and Elizabeth Warren have also suggested forgiving student debt by executive order.
American higher education needs a wrecking ball—not a bailout.
If Joe Biden raises student loan forgiveness to $20K, millions more borrowers would be free of the crushing federal education debt.
"Canceling student loans is less stimulative per dollar than about almost anything we've enacted so far for COVID relief," said Marc Goldwein of the Committee for a Responsible Federal Budget.
Student Loans Justice, a grassroots organization, started the Change.org petition to call for student loan debt to be forgiven via executive order.
"They're having to make choices between paying their student loans and paying their rent," the president-elect said recently.
"Please don't tell me that we cannot afford to cancel all student debt and make public colleges and trade schools tuition-free and debt-free for all," Sanders tweeted.
President-elect Joe Biden has spoken about plans for student loan debt forgiveness but without a Democrat majority in the senate, his hands may be tied.
During the campaign trail, Biden proposed creating a program that offers $10,000 of undergraduate or graduate student debt relief and making public colleges and universities tuition-free for all families with incomes below $125,000.
Promising tens or even hundreds of thousands of dollars to young people is nothing short of bribery.
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