AG Kaul pushes canceling $50,000 per person in student loan debt

Published: Feb. 22, 2021 at 7:31 PM CST|Updated: Feb. 22, 2021 at 7:34 PM CST
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MADISON, Wis. (WMTV) - Attorney General Josh Kaul is promoting resolutions Monday that call for canceling some student loan debt for borrowers.

Kaul and a coalition of other attorneys general sent a letter to Congress, calling on President Joe Biden to cancel up to $50,000 in federal student loan debt per borrower amid the COVID-19 pandemic and financial crisis.

Kaul argued that the cost of education has increased dramatically, causing many Americans to have substantial debt that is only enhanced by the pandemic.

“Education opens pathways to opportunities,” Kaul said. “And its impact reaches far beyond the person receiving an education. It can spur innovation, promote the exchange of diverse ideas and perspectives, and help prepare people for careers that benefit others.”

The letter also addressed that the current student loan repayment system is insufficient for borrowers to manage their debt if they are struggling.

The attorneys general also accuse for-profit schools of not acting appropriately when it comes to student loan debt and that the industry’s practices have disproportionately harmed people of color.

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