“The Squad” Urges Pelosi To Include “One-Time Universal $30k Student-Loan Cancellation” In Next Relief Bill

“The Squad” Urges Pelosi To Include “One-Time Universal $30k Student-Loan Cancellation” In Next Relief Bill

A group of Democrats – whose mostly white, middle-class, college-educated supporters who derive most of their understanding of contemporary politics and the economy from memes – is pushing House Speaker Nancy Pelosi and Minority Leader Kevin McCarthy to include a “universal, one-time, student loan debt cancellation of at least $30,000 per borrower in the next round of COVID-19 relief legislation.”

So-called Democratic socialists love to drone on about how policies like universal health-care and student loan forgiveness are “popular” (that is, according to several questionably worded surveys), but the truth is, the overwhelming majority of Americans aren’t currently paying down student debt. Fewer than 45 million Americans – that’s less than one-third of working-age adults – are student loan borrowers, and they share nearly $1.5 trillion in debt.