AG Kaul joining multistate coalition to support cancelation of up to $50K in student loan debt
MADISON, Wis. — Attorney General Josh Kaul has joined a multistate coalition supporting the cancelation of up to $50,000 in federal student loan debt.
In a letter sent to Congress on Friday, attorneys general from over a dozen states urged the adoption of Senate Resolution 46 and House Resolution 100, which call on President Joe Biden to cancel up to $50,000 in federal student loan debt per borrower.
“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. Because of the dramatic increase in the cost of education, however, many Americans have substantial student loan debt.”
The letter states the existing repayment system for federal student loans has “insufficient opportunity” for borrowers to manage their debts. With the pandemic and financial crisis taking a toll on borrowers, many are in need of immediate relief.
To read the full letter, click here.
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