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People need to rethink what they know about student loans, said Collinge. This is not a partisan problem, this is not a young person’s problem either. You know there are more people over the age of 50 with student loans than under the age of 25 and they owe three-times more than that younger group. More than forgiveness, Collinge wants to reform the entire student lending system, restore bankruptcy protections for loans and slow the rising cost of college. So we are now calling on President Biden to cancel all federally owned student loans which he can do by executive order, Collinge said.

New yorkUnited statesDepartment of educationDistrict of columbiaThe white houseWhite houseChuck schumerAlan collingeNathan daun barnettElizabeth warrenBeth akersAffairs committee hearingPublic service loan forgivenessUniversity at buffalo higher educationUs senate onAmerican enterprise institute