Elizabeth Warren Calls for Biden to ‘Cancel Student Loan Debt for Tens of Millions of Americans’

Speaking at the New York Times DealBook Online Summit, Sen. Elizabeth Warren issued a litany of socialist policies that she believes a potential Biden administration should pursue beginning on day one.

“For me it is a mandate to Joe Biden and Kamala Harris to do the things we can do, to cancel student loan debt for tens of millions of Americans, [the] single biggest stimulus we could add to the economy,” Warren said.

Warren also called for “universal childcare,” “universal pre-K education,” and “universal health care” during her 15-minute appearance with the Summit’s host, Andrew Ross Sorkin.

Warren’s latest call for canceling student debt, which stands at a whopping $1.7 trillion, comes after she co-sponsored a bill in the U.S. Senate that would wipe away more than $1 trillion in outstanding student loan debt.

Additionally, it’s worth noting Senate Minority Leader Chuck Schumer (D-NY) has said that legislation is not even necessary to erase the student debt for tens of millions of Americans. According to Schumer, “We believe that Joe Biden can do that with the pen as opposed to legislation.”

Time will tell if a potential Biden administration attempts to override Congress with an executive order that would “cancel” more than $1 trillion of student debt. But Biden seems more than open to it, saying recently that he would favor “immediately” cancelling up to $10,000 of debt per student.

“It’s holding people up. They’re in real trouble. They’re having to make choices between paying their student loan and paying their rent,”  said Biden.

PHOTO: Sen. Elizabeth Warren. Photo by Tim Pierce. Attribution 2.0 Generic (CC BY 2.0)

Chris Talgo (CTalgo@heartland.org) is an editor and research fellow at The Heartland Institute and a researcher and editor at StoppingSocialism.com.