Warren and Clyburn team up on effort to cancel student loan debts for 95 percent of borrowers

Legislation would terminate up to $50,000 in student loan debt per borrower, and help 95 percent of borrowers. For many, debt would be wiped out entirely.#DemsHaveHeart – and are working to solve a crippling problem that has saddled many with debt that lasts much of their working lives.

The problem became exacerbated when budgets tightened in the 80s, and states decreased funding for state schools. UofSC used to be fully-state-funded. You’d be surprised how little it gets from the legislature currently.

It is not only a concern for those who have the debt. It is a concern for everyone to have this problem addressed because the student loan debt bubble – if it bursts – could punch a huge hole in the economy, much like the real estate bubble did when home loans were defaulted on in the early 2000s.

Kudos to Sen. Elizabeth Warren and SC’s own champion of the people, @Rep. Jim Clyburn for this effort.

Everyone should support this.

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Author: https://facebook.com/121593341203165 – Richland County Democratic Party


City: call 1 803-553-5545

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Walter Clark

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