Warren want Democrats to deliver - Face the Nation

[question everything]

SEN. ELIZABETH WARREN (D-MA): Look, Democrats need -- Democrats win when Democrats are in touch with the American people and what's happening to them.

Today, we've got people who are in the checkout line for groceries and having to pick what they're going to send back because they can't afford to pay for it. We've got millions of people across this country who say they're not ready for their student loan payments to resume, that they simply can't manage those loan burdens. We've got millions of people across this country who can't fill up on a tank of gas so they'll be able to get to work this week.

As Democrats, we need to deliver. We need to hit costs head-on. And we have the power to do that. We've got less than 200 days left, though. And instead of looking backwards, let's look forward. Let's get done what we can get done for the American people who elected us, for the American people who are counting on us.

You just mentioned student debt. I know you believe the president can just erase it essentially through executive orders. But both the White House and Speaker Pelosi have said he may not have the authority, that Congress would have to act here.

ELIZABETH WARREN: Look, we know that the president has the authority to cancel student loan debt. And the best way we know that is because President Obama did it. President Trump did it. And President Biden has now done it repeatedly. The power is clearly there and the need --

MARGARET BRENNAN: Extending deadlines, you mean there?

ELIZABETH WARREN: No, no, they have canceled -- remember, they have canceled debt. They both canceled it for people in certain categories entirely, but they have also canceled the interest that is due on people's student loans. They haven't deferred it, they have canceled it, because the power of the -- of cancellation is already in the statute. President Obama, President Trump, President Biden have all done it.

And understand, on cancellation, this is something the American people want, and it's something that tens of millions of people need. Forty percent of the folks who are handling student loan debt don't have a college diploma. These are people who tried but life happened, pregnancy, they were working three jobs, their mom got sick, they had to move to another city. And now they earn like a high school grad, but they are trying to manage college loan debt and it is crushing them.

More..

https://news.yahoo.com/full-transcript-face-nation-april-180100108.html?fr=sycsrp_catchall and scroll down

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Not sure exactly how we can accomplish the "have to do."

[Budi]

1. Wtf? Huh?

Smdh

[betsuni]

2. Is she talking about the Obama Student Loan Forgiveness Program?

I looked it up and it says it's technically a repayment program, not a student loan forgiveness program and that Obama signed it into law. That doesn't sound like canceling, doesn't sound like an EO.

[Hoyt]

3. What Obama did was the way to go on student loans, but it needs better thresholds.

Here’s a description of Obama’s plan:

“ Pay As You Earn (PAYE)

“Pay As You Earn (PAYE) is an income-driven repayment plan implemented by former President Obama in 2012. In this plan, payments are calculated as 10 percent of your discretionary income. The repayment term is 20 years, after which time the remaining balance is forgiven. Borrowers must have received their first student loan on or after Oct. 1, 2007, and they must have taken out a Direct Loan or Direct Consolidation Loan on or after Oct. 1, 2011.

“PAYE is designed for students with financial need. To qualify, the amount you would pay on PAYE must be less than what you would pay on the standard 10-year repayment plan.”

Think the calculation of discretionary income needs to be improved to help borrower, and the repayment percentage needs to be reduced for lower income individuals. Also, loan balances should be dischargible in bankruptcy. Plus, gotta make education more affordable.