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  • Rep. Ilhan Omar urges ‘some kind of relief’ for student loan debt – WCCO

Rep. Ilhan Omar urges ‘some kind of relief’ for student loan debt – WCCO

By on April 10, 2022 0

MINNEAPOLIS (WCCO) – Last week, President Joe Biden suspended student loan repayments for the third time – this time until August 31.

Borrowers have not had to repay these loans for two years.

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Student debt is crushing not only students but also their families, with many young borrowers taking 20 years to repay their loans.

The numbers are staggering. Forty-three million borrowers have student loan debt worth $1.6 trillion. The average payment is $460 per month.

In Minnesota alone, 750,000 people have federal student debt, with loans averaging $35,000.

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Progressives in Congress recently met with Biden to push for federal student loan forgiveness. Among them was MP Ilhan Omar. She was a guest on WCCO Sunday Morning.

“But we can’t keep pausing it, can we? We need to find some kind of relief, and I think the president has committed to exploring an amount that could be, that he could just cancel,” she said. “So I walked away from that meeting hoping that action will be taken soon.”

Some members of Congress want any pardon plan to be income-tested so that only the lowest income earners are pardoned. Most Republicans are against any pardon, arguing that it will have a devastating effect on the economy. They believe this would push inflation even higher.

Biden says he’s considering a pardon plan and that’s an option “that’s on the table.” Look for continued debate on this with the August 31 deadline looming. That’s when millions of people will have to start repaying their loans again.

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You can watch WCCO Sunday Morning every Sunday at 6am, 7am and 10.30am