How to Save the Pandemic Generation

How to Save the Pandemic Generation
Leisa Thompson/The Ann Arbor News via AP, File

There’s a looming student debt cliff awaiting us in 2021. With America in the teeth of the Covid-19–enabled economic downturn, lawmakers suspended federal student loan payments for 80 percent of federal student loan borrowers. This measure, which President Donald Trump extended a few weeks ago, is set to expire on New Year’s Eve, which means borrowers will ring in the new year by restarting their student loan payments in one of the worst job markets in a decade. If Trump truly wanted to give relief to the 43 million people with federal student loans, he could cancel student debt, using the authority Congress gave the Department of Education decades ago. Senate Minority Leader Chuck Schumer and Senator Elizabeth Warren have now introduced a resolution urging Trump to do just that.

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